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The AT-1 Bond Blowout Is About To Hit Home
Close to Rs 55,000 crore in AT-1 bonds have first call options coming up in FY22 and FY23. How will this capital be replenished?
A write-down, allegations of mis-selling, legal challenges and radically altered regulations—Additional Tier-1 securities have seen dramatic times in the last few years. This blowout, which began with the Reserve Bank of India’s decision to write-down AT-1 bonds as part of the resolution plan for Yes Bank Ltd. and ended with the Securities and Exchange Board of India altering valuation rules for these securities, is only now hitting ...
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