Private sector lender Yes Bank on Friday said it will raise USD 600 million (approx Rs 3,830 crore) through issuance of fixed term notes under its USD 1 billion Medium Term Note (MTN) programme.
“The Capital Raising Committee of the board approved the issuance and allotment of fixed term notes for an aggregate principal amount of USD 600 million under the USD 1 billion Medium Term Note Programme of the bank,” Yes Bank said in a BSE filing.
In December last year, Yes Bank had established a Medium Term Note Programme to raise USD 1 billion (over 6,400 crore) by issuing debt securities on private placement basis.
On November 29 last year, 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.
Shares of Yes Bank were trading 1.70 per cent lower at Rs 353.05 on BSE.