Yes Bank successfully raised Rs. 554.20 crore by completing placement of Basel III Tier II bonds. The stock has advanced around 1.5 percent on the BSE.
According to a release issued by the bank, Yes Bank successfully raised Rs. 554.20 crore by completing placement of Basel III Tier II bonds.
The bonds were raised at a coupon rate of 9.15 percent and with a tenor of 10 years, will be listed on the BSE.
Reports also indicate that the bank has brushed off reports of spike in bad loans as suggested by a foreign investment bank following its downgrade. Yes Bank has stated that the band was lending prudently and did not expect a spike in bad loans.
The stock so far in the day has touched a high of Rs. 820, and is now up 1.6 percent at Rs. 810. The counter has seen trades of around 134,000 shares as against the two-week daily average volume of around 313,000 shares on the BSE.
Meanwhile, the Sensex is almost flat at 27,688.
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