Yes Bank seeks shareholders’ nod to raise Rs 10000 crore
Yes Bank is seeking shareholders’ nod to raise up to Rs 10,000 crore through debt instruments.
“For enabling the bank to evaluate a potential fund raising at an appropriate time, the board of directors seek approval from members of the bank for borrowing/raising funds in Indian/foreign currency by issue of debt securities up to Rs 10,000 crore,” Yes Bank said in a notice to its shareholders.
The lender will seek their approval at its annual general meeting on July 15.
The bank added that it plans to borrow the funds through debt securities including non-convertible debentures, MTN (Medium-Term Notes), bonds (including forming part of tier I/II
capital). It may also include long-term infrastructure bonds or such other securities, including securities to be issued from its offshore branches or the IBU (IFSC Banking Unit) situated at the GIFT City IFSC.
These funds may be raised in one or more tranches in domestic or overseas markets.