Yes Bank in talks to raise up to $1 billion

Yes Bank in talks to raise up to $1 billion

Yes Bank in talks to raise up to $1 billion

Yes Bank is in advanced stage of talks to close a $1 billion equity fund from private equity (PE) firm Carlyle and Advent International, two people aware of the development said.

Fundraising talks were progressing slowly Reasons for the Asset Reconstruction Company (ARC) deal
Yes Bank was rushing to clear off a major chunk of bad loans On its books, people said. Fundraising conversation with carlyle and Advent pick up pace with the bank deciding to part ways with-

ARC likely in talks with Jesse Flowers Conclusions to be drawn soon. However, it may take some more time As the bank is seeking shareholder approval for the new board of directors. Emails sent to Yes Bank and Arrival did not respond. Carlyle declined to comment.

Mint reported on June 2 that Yes Bank has chosen Jesse Flowers As its partner to clear the bad debts of the asset reconstruction company ₹49,000 crore as the lender wants to clear its books and Raising capital to fund credit growth. JC flowers offered ₹12,107 crore against bad loan book, ensuring 25% health benefit. Yes Bank will have to invest ₹ 400 crore in JC Flowers ARC will buy 20 per cent stake in the company.

Payment by Joint Venture Company for Bad Debts The book will be made under the framework of 15:85, which will cost Rs 1,800 crore, or 15% of the agreed amount, to be paid in advance Cash to Yes Bank. Balance will be paid in security receipts Encashed by ARC as recovery of money from defaulters.

The so-called technicalities in the ₹49,000 crore bad loan book include-Cal write-offs and investments soured at Rs 17,000 crore. On 8 June, the bank announced that it has initiated The process of exiting two established reconstruction plans Many years ago.