Yes Bank on Thursday got approval for buyback of $200 million notes issued under the lender’s medium-term note programme. The capital raising committee has approved the scheme and recommended the bank to offer tender for buyback of foreign bonds.
In its regulatory filing, Yes Bank The CRC has approved a tender offer on June 2, 2022 for repurchase in respect of notes issued under the Bank’s Medium Term Note Program for an amount up to $200 million and recommends of it.”
(i) the notes offered during the initial tender offer period shall be repurchased at 100% of the principal amount; and (ii) 97% of the principal amount of notes relating to notes presented after the end of the initial tender offer period but on or before the end of the tender offer.
YES BANK will give further information regarding repurchase of notes upon completion of repurchase of 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.
Shares of Yes Bank closed on BSE 13.38 an increase of 1.06% each.