Monday, 4 April 2016

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Yes Bank raises Rs. 545 crore of Tier II bonds

Country’s fifth largest private lender Yes Bank 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. The bonds will be listed on the BSE Limited.

Recently, the bank announced its marginal cost of funds based lending rate (MCLR) for one year at 9.60 per cent. As per RBI guidelines, the bank has approved MCLR for all Rupee loans sanctioned with effect from April 1st 2016.

Besides the one-year tenor, the bank has declared MCLR for other tenors — overnight (9 per cent), one month (9.10 per cent), three months (9.25 per cent) and six months (9.40 per cent).

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