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YES Bank awaits board's approval to raise Rs 20k cr via bonds

Money to be raised in one or more tranches through private placement

Press Trust of India  |  New Delhi 

Yes Bank

Private sector lender on Tuesday said the capital raising committee of the bank will take up the proposal this week to raise up to Rs 20,000 crore by issuing

The bank said the of various nature can be issued both in Indian or foreign currency.

"The capital raising committee of the board would consider the proposal to raise funds by issuing on private placement basis, including the term of the issue in the nature of Basel III tier-II on or after September 29," the bank said in a regulatory filing.

Further, said it has necessary approvals from the board of directors and to borrow/raise funds in India/foreign currency up to Rs 20,000 crore via debt securities, including but not limited to

Among the types of instruments, the bank may issue medium-term notes (a form on debt securities), bonds (including bonds forming part of tier-I/II capital as per Basel III capital norms), as well as long-term infrastructure bonds or any other securities that are allowed to be raised.

Without giving any time-frame, said the money will be raised in one or more tranches through private placement.

Stock of the bank closed 0.22 per cent up at Rs 360.35 on on Tuesday.

First Published: Tue, September 26 2017. 23:25 IST