Yes Bank crisis: Debenture trustee ATSL writes to RBI seeking relief for AT1 bondholders
In the restructuring package for Yes Bank proposed last week, the RBI had suggested that over Rs 8,000 crore worth of investments by MFs and bank treasuries in the Additional Tier 1 (AT1) bonds should be written-off completely.
Axis Trustee Services (ATSL), a debenture trustee for majority AT1 bondholders of Yes Bank, on March 11 requested the Reserve Bank of India (RBI) to consider salvaging at least around 20 percent of the bondholders outstanding principal amount.
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