YES Bank bondholders say will withdraw court plea if RBI accepts offer

Overall, more than Rs 8,000 crore of investments are exposed to YES Bank's AT-1 bonds

Investors in YES Bank's additional tier-1 (AT-1) bonds have written to Reserve Bank of India (RBI) that will accept the regulator's offer where they can recover at least 20 per cent of investments and will subsequently withdraw petition from Bombay High Court (HC).

The bondholders, in a letter sent through Axis Trustee Services, proposed that they be allotted a minimum 1,700 million shares in proportion to their current exposures.

As a result, the imputed value will work out to Rs 10 per share, which would approximately amount to Rs 1,700 crore. This will lead to "salvaging near-about 20 per cent of the