Yes Bank, in its regulatory filing said that the bank has not completed the evaluation and assessment, it will communicate its decision, if any, on whether or not exercise of coupon discretion is required in respect of the AT-1 Bonds after it has completed the evaluation and assessment
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DHIRAJ SINGH
Axis Trusteeship Services Ltd (ATSL) has issued a notice on October 28, 2026, calling upon Yes Bank’s MD & CEO and its Board of Directors to restore/reactivate within three days the AT-1 bonds, written down by the Bank’s then Administrator in March 2020, aggregating Rs 8,415 crore that have been restored following a recent Supreme Court.
Responding to the Yes Bank AT1 Bond Holders’ Association’s concerns relating to unpaid coupons on the bank’s two series (coupon rates: 9 per cent and 9.50 per cent) of AT-1 Bonds, ATSL, in a communication to the Association, said its aforementioned notice seeks re-instatement/activation of the said Bonds in the bank’s books and in its register of debenture holders/beneficial owners or their successors.
Further, the notice also wants the Bank to carry out the requisite corporate actions with NSDL and CDSL for reactivation of the two bond series, for reversal of all entries, write-offs and cancellations effected pursuant to the impugned decision and take all steps with BSE and NSE for restoration of the said bonds on their respective platforms, including resumption of trading therein.
ATSL said the aforesaid notice has also been copied to RBI, SEBI, BSE, NSE, and depositories — NSDL and CDSL.
Coupon discretion
ATSL has also issued a communication dated October 28, 2026, to Yes Bank seeking clarification regarding coupon payments for the period from March 14, 2020, to October 15, 2026; the status of coupon payment on one series of AT1 bonds which was due on October 19, 2026, and on another series of AT1 bonds due on December 23, 2026.
Yes Bank, in an October 24, 2026, regulatory filing, noted that given that the bank has not completed the evaluation and assessment, it will communicate its decision, if any, on whether or not exercise of coupon discretion is required in respect of the AT-1 Bonds after it has completed the evaluation and assessment, which it expects to complete in due course.
Published on October 29, 2026