YES Bank board approves early redemption of eight bonds worth Rs 1,764 cr


Table of Contents



board on Friday approved a proposal to seek investors’ nod for early redemption of bonds worth Rs 1,764 crore.


The decision was taken at a meeting of the Capital Raising Committee of the lender, said in a regulatory filing.





The committee gave its nod to a proposal seeking approval from for early redemption of Basel II-compliant lower tier II and upper tier II bond instruments subject to necessary approvals, it said.


Total 8 bond issuances that were issued during June-December in 2012, are up for early redemption. These bond issuances are set to mature during 2022 and 2027.


Issuers of bonds may go for early redemption of debt instruments if the current interest rates fall below the rates it pays on the bonds issued.


This is a way to retire costly debt and issue fresh bonds at lower interest rate.


stock closed at Rs 13.92 on BSE, up 0.36 per cent from the previous close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link