Yes Bank raises Rs 545 crore to meet Basel III norms
business Updated: Apr 04, 2016 13:45 IST
Private lender Yes Bank has raised Rs 545 crore of bonds on a private placement basis to meet its Basel III capital requirements.
Informing the stock exchanges, Yes Bank said it “has successfully raised Rs 545 crore of Basel III compliant Tier II bonds on private placement basis. The issue was closed on March 31, 2016.”
The issue was rated “ICRA AA+ hyb” by ICRA and “CARE AA+” by CARE and the Bonds will be listed on the BSE Limited, Yes Bank statement on BSE said.
Basel III is a global regulatory framework that underlines minimum capital requirement by banks by March 2018 intended to strengthen bank capital requirements and stress tests by increasing bank liquidity and decreasing bank leverage. It is much more stringent than existing requirements.
At 1.30 pm, shares of Yes Bank were trading up 0.58% at Rs 860.70 per share on the Bombay Stock Exchange.