The Capital Raising Committee of the board of directors of YES Bank will be meeting later this month to consider a proposal to raise funds by issuing debt securities on a private placement basis.
In a regulatory filing on Monday, YES Bank said the Capital Raising Committee will be meeting on or after September 14 to consider the proposal of issuing BASEL III-compliant Tier 2 bonds. Earlier this year, the private sector lender had received approval from its shareholders to borrow or raise funds as much as ₹30,000 crore in Indian or foreign currency by issue of debt securities, including but not limited to Non-Convertible debentures, medium-term notes and bonds.
The funds can be raised in one or more tranches on private placement basis from time to time.