Yes Bank seeks buyers for Rs 4200 crore corporate and retail distressed loan book
Almost a year after selling a Rs 48000 crore distressed loan book, Yes Bank has put another portfolio of a little over Rs 4200 crore on the block.
The private bank is seeking buyers for its corporate and retail loans with outstanding debt of Rs 4233 crore, according to two separate notices issued to finance companies and asset reconstruction companies (ARC).
Last year, the bank sold a Rs 48000 crore non-performing loan portfolio to JC Flowers ARC in what is seen as the largest secondary market trade in the distressed loan segment.
The corporate loan portfolio comprises eight accounts with Rs 3091 crore, while the retail portfolio is Rs 1142 crore.While the sale of distressed loans to JC Flowers ARC was in a combination of cash and security receipts, this time, the bank is seeking offers only in cash.The corporate portfolio includes two UK-based companies – Prometheon Enterprises Ltd, UK with a debt of Rs 1496 crore and Malvern Travels