SOVEREIGN DEBT RESTRUCTURING | MASTERCLASS

A deep dive masterclass on sovereign debt restructuring, to be conducted virtually by Asian high yield bond expert Florian Schmidt.

30 June 2022 (Thu), 5pm Singapore/HK time

Yes Bank will seek an approval from its shareholders in July to raise debt INR 100bn ($1.3bn) via a private placement. Among the several private placement options it is considering are the issuance of non-convertible debentures (NCDs), medium term bonds, possible Tier 1 or Tier 2 bonds, ¬†long-term infrastructure bonds, bonds issued from its offshore branches and/or its banking unit at the GIFT City IFSC. Both domestic and offshore markets are being considered for the capital raise. The lender’s annual general meeting is scheduled for July 15 and the announcement is expected by that date.

Yes Bank’s USD 3.75% 2023s were trading stable at 99.32, yielding 4.86%.

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