Yes Bank raising Rs 364 cr capital from Rabobank

Mumbai, June 30 (UNI) Yes Bank, India's new age private sector Bank, today announced that it has successfully raised Rs 364 crore (USD 85 million) in a combination of Upper Tier-II Subordinated Debt and Hybrid Tier I Capital from Rabobank.

The quantum of the Upper Tier-II private placement issuance of unsecured, redeemable, non-convertible, subordinated bonds was Rs 343 crore (USD 80 million) with a tenor of 15 years. Additionally, the Bank has also raised Hybrid Tier-I Capital (Perpetual Capital) of Rd 21 crore (USD 5 million), the Bank stated in a release issued here.

Commenting on the move, Bank Managing Director and CEO Rana Kapoor said, ''This is a successful demonstration of Yes Bank's ability to raise significant long term capital in currently adverse market conditions. The capital injection further reinforces the financial soundness and stability of Yes Bank. We will periodically augment our capital base to fund our expansion plans.'' UNI VK GR SM1418