YES BANK raises Rs 180 cr of Tier II debt

Chennai, Nov 1 (UNI) YES BANK, India's new age private sector Bank, today announced that it had successfully raised Rs 180 crore (USD 40 million) of subordinated Tier II debt through private placement issue of unsecured, redeemable, non-convertible and subordinated bonds.

The size of the issue was Rs 100 crore (USD 22.3 million) with an option to retain over subscription of Rs 80 crore (USD 17.7 million).

The Bank received subscription for the entire issue, including the greenshoe option, a bank release said.

On the successful completion of the offer, Mr Rana Kapoor, CEO and MD said "the private placement of bonds is being made to augment the Tier II capital base for further strengthening capital adequacy and enhancing the long-term resources of the bank".

UNI GV JJ 1807