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Our Bureau

Mumbai, Oct. 7 YES Bank has raised Rs 182 crore of upper tier II subordinate bond to meet its capital adequacy and long-term needs.

It was a private placement issue of unsecured, redeemable, non-convertible, subordinated bonds, said a press release from the bank.

The issue size was Rs 50 crore with an option to retain the entire amount of over subscription. The bank received subscription for the entire issue, including the greenshoe option of Rs132 crore.

Mr Ajay Mahajan, Group President, Financial Institutions and Investment Management, said: “The private placement of bonds has been made to augment the tier-II capital base for further strengthening capital adequacy and enhancing the long-term resources of the bank.”

The bonds have been rated LA+ by ICRA and A+ by CARE.

More Stories on : Corporate Bonds | Private Banks

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