Yes Bank raises Rs 21.35 billion via long-term infrastructure bonds

YES Bank has raised Rs 21.35 billion by issuing senior long-term infrastructure bonds and will use the proceeds to finance affordable housing and infrastructure projects. The bond issue carried a coupon rate of 8 per cent per annum with a tenor of 10 years. The issue garnered Rs 21.35 billion against a base size of Rs 10 billion, with Rs 11.35 billion raised through the greenshoe option. The bond issue comes on the back of YES Bank’s definitive agreement with Dutch development bank FMO, in September 2016, to issue Rs 3.3 billion of green infrastructure bonds, marking FMO’s first investment in green infrastructure bonds in India.