Supreme Court AT-1 bond judgment: coupon decision on 9% bonds still pending
Yes Bank has updated the exchanges on the Supreme Court judgment relating to its Additional Tier-1 (AT-1) Bonds.
By ScoutQuest · · 2 min read
- Bond series
- 9% YBL AT-1 Bonds
- Coupon payment date
- 18 October 2026
- Information Memorandum date
- October 17, 2017
What the update says
Yes Bank has given the exchanges an update on the Supreme Court judgment relating to its Additional Tier-1 (AT-1) Bonds. The bank says it is examining the judgment in detail and evaluating all available options and suitable actions or steps. It had earlier put out disclosures on this matter on 15 October 2026 and 16 October 2026, and a disclosure dated 18 October 2026 on the debt segment of BSE Limited.
Coupon discretion and the 9% bonds
- Under the terms of the AT-1 Bonds, as set out in their respective Information Memoranda, the bank retains the right to exercise coupon discretion on the bonds.
- The bank says it has been receiving queries from certain bondholders about payment of the coupon on its AT-1 Bonds.
- As per the Information Memorandum dated October 17, 2017, the 9% YBL AT-1 Bonds had a coupon payment date of 18 October 2026.
Decision awaited
The bank states that it has not completed its evaluation and assessment. It will communicate its decision, if any, on whether or not exercise of coupon discretion is required, after that evaluation and assessment is complete, which it expects to complete in due course. It will make further disclosures once the assessment is done.
What this means in simple terms
AT-1 bonds are a special category of bank capital, and the update itself points out that the bank retains a right of coupon discretion under the terms of issue. This update does not announce a coupon payment or a decision not to pay; it says the matter is still being assessed and a decision will be communicated later. The operating terms of the bonds sit in their Information Memoranda.
Operations
The bank states that Yes Bank's day-to-day operations and customer services continue seamlessly across all branches and digital channels without interruption.
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23 Oct 2026
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21 Oct 2026
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More numbers
- Coupon rate on YBL AT-1 Bonds9%
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