Yes Bank partners with JC Flowers ARC for sale of identified stressed loan portfolio

15 Jul 2022 , 11:08 AM

Yes Bank has signed a binding term sheet with JCF ARC LLC and JC Flowers Asset Reconstruction (?JC Flowers ARC?) for strategic partnership in relation to sale of identified stressed loans of the Bank. The term sheet has now become effective as on 15 July 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 crore. 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 ARCs bid as the base bid.Powered by Capital Market – Live News