Yes Bank successfully issues India's First Green Infrastructure Bond

YES Bank has successfully issued India's FIRST ever Green Infrastructure Bonds raising an amount of Rs. 1000 crores. The issue launched on February 16, 2015 for Rs. 500 crores plus green shoe option witnessed strong demand from leading investors including Insurance Companies, Pension & Provident Funds, Foreign Portfolio Investors, New Pension Schemes and Mutual Funds resulting in a total subscription of Rs. 1000 crores and was closed on February 24, 2015.

The bonds are for a tenor of 10 years and will be used to finance Green Infrastructure Projects in Renewable Energy including Solar Power, Wind Power, Biomass and Small Hydel projects.

YES Bank's sustainable Investment Banking and Debt Capital Markets team acted as arranger to the transaction. KPMG, India will be providing the Assurance Services annually, on the use of proceeds in accordance with the Green Bond principles.

The first such green bond issuance in India by YES Bank will catalyse the market for green infrastructure bonds in India and allow responsible investors to facilitate funding towards Renewable and Clean Energy projects.

Shares of YES BANK LTD. was last trading in BSE at Rs.794.85 as compared to the previous close of Rs. 800.05. The total number of shares traded during the day was 262375 in over 11584 trades.

The stock hit an intraday high of Rs. 810.8 and intraday low of 792.6. The net turnover during the day was Rs. 210469136.

Source : Equity Bulls

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