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Private sector lender YES Bank on Wednesday said its board has approved a proposal to set up MTN programme to raise $1 billion (about ₹6,500 crore) on private placement basis.
The Medium Term Note (MTN) programme, an instrument to raise money through debt securities that typically matures in 5-10 years, is within the overall borrowing limit of ₹20,000 crore, the bank said.
“The Capital Raising Committee of the board, at its meeting held on November 29, has considered and approved the bank’s proposal to set up the MTN programme,” the bank said in a regulatory filing.
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