India’s Yes Bank board OKs up to Rs. 300 billion of tier 2 bonds

By Sarah Lizee

Olympia, Wash., Sept. 10 – Yes Bank Ltd. notified the Bombay Stock Exchange that it received approval from its board of directors and shareholders to raise up to Rs. 300 billion of Basel 3 compliant tier 2 bonds.

The debt would be issued in one or more tranches on a private placement basis, according to the notice.

The bank said the capital raising committee will meet on or after Friday to consider the final terms and conditions of the bonds, including the issue price.

Yes Bank is a private sector bank with headquarters in Mumbai.

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