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India's YES BANK to issue 30B rupees of debentures

India-based YES BANK Ltd.'s board approved a plan to raise up to 30 billion rupees through an issuance of nonconvertible, redeemable, unsecured Basel III-compliant Tier 2 bonds, in the form of debentures.

The bank said Feb. 21 it has board and shareholders' approval to raise up to 200 billion rupees in local and foreign currencies via an issue of debt securities in one or more tranches on a private placement basis.

As of Feb. 21, US$1 was equivalent to 64.81 Indian rupees.