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Yes Bank sets up MTN programme to raise $1 bn

IANS | New Delhi |

 Private sector lender Yes Bank said on Saturday it has established a Medium Term Note programme to raise $1 bn (over 6,400 crore) by issuing debt securities on private placement basis.

“…The Bank has, on December 22, 2017, established a Medium Term Note programme for an amount of $1 bn, in order to enable the bank to issue debt instruments in the international capital markets, to eligible investors, from time to time, in one or more tranches and/or series,” Yes Bank said in a regulatory filing.

On November 29, the Capital Raising Committee of the board of the bank had approved its proposal to set up the MTN programme.

The bank can raise money, in Indian or foreign currency through various means, including issuance of debt securities such as non-convertible debentures, MTNs, tier I/II bonds, as well as long-term infrastructure bonds.

As per the approval from its board of directors and shareholders, the bank has permission to raise funds up to Rs 20,000 crore in one or more tranches on private placement basis from time to time.