 "YES Bank")
Private sector lender YES Bank is planning for early redemption of tier II bonds of about Rs 1,763 crore. This is part of its plan to retire high-cost instruments before close of the current financial year (FY22).
The bank, in filing with the BSE, said the capital raising committee of the board approved the proposal for seeking a nod from investors for early redemption of tier II bonds. These instruments — lower and upper tier II bonds — are Basel II-compliant.
The lower tier II bonds just over Rs 1,059 crore are due for maturity between August and October 2022. The remaining
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