Yes Bank to raise up to Rs 10,000 crore by issuing debt securities
Yes Bank on Thursday received board approval to raise up to Rs 10,000 crore by issuing debt securities.
The board of directors at its meeting on Thursday considered and approved seeking shareholders’ approval to borrow funds in Indian/foreign currency up to Rs 10,000 crore by issuing debt securities, Yes Bank said in a filing.
The Yes Bank shares closed 3.03 per cent up at Rs 14.64 apiece on the BSE.
Mortgage lender HDFC Ltd will raise Rs 2,000 crore through 10-year debentures at a coupon rate of 6.88 per cent.
The secured redeemable non-convertible debentures will be open for bids on June 14 and will close on the same day. The issue has been rated AAA by Crisil and Icra.
“The objective of the issue is to augment the long-term resources. The proceeds will be used to finance/refinance the housing finance business requirements of the corporation,” HDFC said.
Stock of HDFC traded at Rs 2,561.75 apiece on BSE, up 0.67 per cent from the previous close.