Yes Bank completes fund-raising of Rs 665-cr

Private sector Yes Bank said it has completed a fund-raising of Rs 665-crore and would use the proceeds to fuel its growth. The bank raised Rs 225-crore of Perpetual Tier I capital through a private placement issue of unsecured, non-convertible sub-ordinated bonds in the nature of promissary notes. The issue was over-subscribed by leading public sector banks, pension funds and corporates, a press release issued here stated. Another Rs 440-crore of Upper Tier II sub-ordinated debt was raised from the Life Insurance Corporation (LIC), the bank said. This placement has a tenor of 15-years. LIC s total holding of Yes Bank s ...

More...