Yes Bank set to return to dollar bond market after six-year hiatus. Why now?

Yes Bank permanently wrote off its Additional Tier 1 (AT1) debt in March 2020. These securities count toward banks’ regulatory capital and are hybrid instruments that can be written down or written off when specified financial triggers are breached. The move came after Indian authorities took control of the lender as part of a rescue package, with State Bank of India leading a consortium that eventually bailed out the bank.