Home / Companies / News /  Yes Bank to buyback overseas bonds worth $200 million. Details here

Yes Bank on Thursday received approval for the buyback of notes issued under the lender's Medium Term Note Programme to the tune of $200 million. The capital raising committee has approved the plan and recommended the bank to make a tender offer for the re-purchase of the overseas bonds.

In its regulatory filing, Yes Bank said, "the CRC, on June 2, 2022, has approved and recommended to make a tender offer for re-purchase in relation to the notes issued under the Medium Term Note Programme of the Bank for an amount of up to $200 million."

The re-purchase will be carried at (i) 100% of the principal amount of the notes concerning notes tendered during an early tender offer period; and (ii) 97% of the principal amount of the notes concerning notes tendered after the end of the early tender offer period but at or before the expiry of the tender offer.

Yes Bank will make further intimations concerning the re-purchase of the notes upon completion of the re-purchase of the notes.

The bank's board of directors met on Thursday to consider certain rights available to Yes Bank under the terms and conditions of the medium-term note program set up for an amount of $1 billion.

On BSE, Yes Bank shares closed at 13.38 apiece up by 1.06%.

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