Mumbai, September 6, 2016: YES BANK, India’s 5th largest private sector Bank announced that it was the sole investor to State Bank of India’s Maiden Issue of Basel III Compliant Perpetual Bonds (AT1) YES BANK was the sole subscriber to the issue of INR 2100 Crore with a coupon rate of 9% payable annually. The Bond proceeds will qualify for Tier-I Capital and have a call option at the end of 5 years.
Speaking on the issue, Mr. Rana Kapoor, MD&CEO, YES BANK said, “YES BANK is pleased to take part as the sole investor to SBI’s maiden Basel III Compliant AT1 Perpetual Bond Issue. This is a strategic financial transaction which leverages YES BANK’s strengths as a knowledge driven financial institution with strong Debt Capital Markets (DCM) capabilities.”
About YES BANK
YES BANK, India’s fifth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.
YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.
YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “Building the Finest Quality Bank of the World in India by 2020”.
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