Private sector lender Yes Bank today said it has raised Rs 2,135 crore by issuing long-term infrastructure bonds and will use the proceeds to finance affordable housing and infrastructure projects.
This is the single largest issuance of infrastructure bonds by Yes Bank.
“Yes Bank has successfully raised Rs 2,135 crore of senior long-term infrastructure bonds. The issue witnessed strong demand from leading domestic investors including several insurance companies, asset management companies, corporates, pension funds, provident funds and gratuity funds, resulting in a total subscription of Rs 2,135 crore,” it said in a release.
The bond is carrying coupon rate of 8 per cent per annum with a tenor of 10 years. The issue was closed on September 30.
The issue garnered Rs 2,135 crore against a base size of Rs 1,000 crore, with Rs 1,135 crore raised through green shoe option.
“Yes Bank will use the proceeds to finance projects in the infrastructure sector and its recent thrust on affordable housing as a part of the overall retail strategy,” Yes Bank MD & CEO Rana Spoor said.
In September, Yes Bank has raised Rs 330 crore by issuing green infrastructure bonds to Dutch Development Bank FM, which was the latter’s first investment in green infrastructure bonds in India. J’Mon Moore Womens Jersey