YES Bank board approves buyback of overseas bonds up to $200 mn

The lender will do the repurchase at 97% of the principal amount of the notes.

YES Bank plans to buy back overseas bonds worth up to $200 million and issued under the Medium Term Note Programme. The private sector lender did not elaborate on the purpose and timing for re-purchase these bonds.

YES Bank approved and recommended to make a tender offer for re-purchase these notes at 100 per cent of the principal amount if tendered during an early tender offer period, it informed BSE. The bank’s stock closed higher by 1.06 per cent at Rs 13.38 per share.

The bank will do the repurchase at 97 per cent of the principal amount of the