According to the recent sources of the two banking giants, the ICICI and the YES Bank, are planning to match up to 4000 CR to 4500 CR through the infrastructure bonds. Both are planning to raise anything up to Rupees 1500 Cr to Rupees 2500 Cr in the next few weeks.
“Kotak Mahindra Bank has already increased Rupees 500 crores by offering a rate of 8.72% with a 7 year maturity and has placed it with the investors” said KVS Manian, President, corporate & investment banking, Kotak Mahindra Bank. So following the same resembling pattern will be a smart move for promoting investments.
Before this, the AAA Rated Axis Bank gathered up Rs 5,705 crores by selling infrastructure bonds @ 8.85% but the yield lowered 20 basis points and reached 8.65%.
The Private sector lender Yes Bank plans to raise up to Rs 3,000 crores in tier-II or non-equity capital by September in 2015, a top official informed. "We are targeting approx Rs 2,500-3,000 crores of Tier-II capital by September this year," Yes Bank Managing Director and Chief Executive Rana Kapoor told the reporters after the completion of the Vibrant Gujarat Summit in Gandhinagar. The process of taking the approvals from the shareholders and money will be gathered under Basel-III Norms, he added.