INSUBCONTINENT EXCLUSIVE:
MUMBAI: YES Bank has raised Rs 3,700 crore via certificates of deposit after the central bank-initiated bailout lifted investor sentiment on
plans as the lender is set to begin a new innings under a new management
sector banks are said to have subscribed to those money market instruments with about six-month maturities
Those CDs likely offered about 8.25 percent on an average.
Yes Bank did not reply to ET's mailed query on the matter.
The bank might not
A CD pricing agreement is normally inked a day before any transaction is executed in the primary market.
ET could not independently verify
effect from March 18, 2020, which was earlier imposed on Yes Bank by the central government, thereby restricting payments to its depositors
which Yes Bank received equity of Rs 10,000 crore from State Bank of India, now holding 48.2 per cent stake and other domestic financial
institutions.
YES Bank would raise as much as Rs
5,000 crore in share sale as it limps back to normalcy after a surge in bad loans eroded its capital base
The bank Thursday said it would decide on the nature of securities later and raise the funds in one or more tranches to improve its capital
It did not say by when it would complete the share sale.
The bank saw significant deposit withdrawals in the last five months as liabilities
sector banks are safe for deposits.
Yes Bank shares lost about a percent Friday when the BSE Bankex, the industry barometer gained by the
Yes Bank shares closed at Rs 26.40 versus Rs 26.65 Thursday.