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YES Bank to raise Rs 30.42 bn issuing Basel-III compliant bonds

The bonds, set to mature on September 15, 2028, carry coupon rate of over 9.11 per cent payable annually

Press Trust of India  |  New Delhi 

YES Bank net profit up 32%; board okays 5:1 stock split

Private sector lender said Friday it will raise up to Rs 30.42 billion by issuing

The capital raising committee of the board of the bank Friday approved issuing 30,420 rated listed non-convertible redeemable unsecured Basel-III compliant tier II of Rs 1 million each aggregating to Rs 30.42 billion, said in a regulatory filing.

The issue opening and closing date is September 14, 2018.

The bonds, set to mature on September 15, 2028, carry coupon rate of over 9.11 per cent payable annually.

The have been rated AAA and AA+ with stable outlook by and Ind-Ra, which means they carry the highest degree of safety on timely servicing of financial obligations.

To comply with the global Basel-III capital regulations, need to improve and strengthen their capital planning processes.

These norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of

has been implementing Basel-III standards in phases since April 1, 2013. The are expected to fully implement these norms by March 2019.

This will align full implementation of Basel-III in India closer to the internationally agreed date of January 1, 2019.

shares closed 2.75 per cent up at Rs 323.10 on BSE.

First Published: Fri, September 14 2018. 18:00 IST
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