Yes Bank : Communication to shareholders as per Reg 30
July 15, 2022 at 01:34 am EDT
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YBL/CS/2022-23/038
July 15, 2022
National Stock Exchange of India Limited
BSE Limited
Exchange Plaza, Plot no. C/1, G Block,
Corporate Relations Department
Bandra - Kurla Complex, Bandra (E)
P.J. Towers, Dalal Street
Mumbai - 400 051
Mumbai - 400 001
Tel.: 2659 8235/36 8458
Tel.: 2272 8013/15/58/8307
NSE Symbol: YESBANK
BSE Scrip Code: 532648
Dear Sirs,
Sub: Partner Selection for Sale of Identified Portfolio of Stressed Assets
Please find detailed below disclosures under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Pursuant to the enabling approval of the Board of Directors on May 06, 2022 and the final approval from the Board Credit Committee on July 13, 2022, the Bank has signed a binding term sheet with JCF ARC LLC and JC Flowers Asset Reconstruction Private Limited ("JC Flowers ARC") for strategic partnership in relation to sale of identified stressed loans of the Bank.
Further to above and having subsequently fulfilled the requisite pre-conditions, the said term sheet has now become effective as on July 15, 2022.
Accordingly, the Bank has decided that the JC Flowers ARC will be base bidder for a proposed sale of an identified stressed loan portfolio of the Bank aggregating to up to Rs. 48,000 Crores.
In accordance with the guidelines issued by the Reserve Bank of India, the Bank proposes to run a transparent bidding process on Swiss Challenge basis for sale of such portfolio using the JC Flowers ARC's bid as the base bid.
Registered & Corporate Office: YES BANK Limited, YES BANK House, Off Western Express Highway, Santacruz (East), Mumbai 400055 Tel: +91 (22) 5091 9800 / +91 (22) 6507 9800, Fax: +91 (22) 2619 2866 Website: www.yesbank.in Email: shareholders@yesbank.in CIN: L65190MH2003PLC143249
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Yes Bank Limited published this content on 15 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 July 2022 05:33:05 UTC.
YES BANK Limited is an India-based commercial bank, which offers a range of products, services and technology-driven digital offerings to its corporate, retail, and micro, small and medium-sized enterprises (MSME) customers. The Company is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking and wealth management. Its segments include Treasury, Corporate Banking, Retail Banking and Other Banking Operations. Treasury segment includes investments, all financial markets activities undertaken on behalf of the Bank's customers and trading. maintenance of reserve requirements and resource mobilization from other banks and financial institutions. Corporate Banking and Retail Banking segment includes lending, deposit-taking and other services offered to corporate and retail customers respectively. Other Banking Operations include para banking activities.
YES BANK LIMITED 