Page 4 - At1 Bonds

AT-1 bond mis-selling case: SAT gives interim relief to YES Bank

In April, Sebi had slapped a penalty of Rs 25 crore on it and 3 executives

The mis-selling menace

Sebi order on AT-1 bonds is in the right direction

Regulation by circulars?

The recent semi-public exchanges between Sebi and DFS raise several questions about the legislative function of regulators that need careful consideration

Best of BS Opinion: Loan moratorium case, AT1 bonds may lose sheen & more

Here's a selection of Business Standard opinion pieces for the day

A good glide path

AT1 bonds may lose sheen but Sebi takes the right call

After govt's intervention, Sebi eases valuation norms for AT-1 bonds

Implementation of 100-year valuation norm pushed to April 2023

Street signs: HNI IPO bets on thin ice, lapse in rights entitlement & more

At a fund house level, more than 10 per cent of assets can be invested in perpetual bonds of a single issuer

Best of BS Opinion: The right policy cart, bond standoff, and more

Here's a selection of Business Standard opinion pieces for the day

AT1 bonds: Over Rs 11,000 cr worth call option due for SBI in FY22

Here is look at outstanding AT1 bonds of select banks and amount for call option in due in FY22

Advisors push AT1 bonds to HNIs to take advantage of surge in yields

Yields of perpetual bonds issued by State Bank of India and Bank of Baroda, for instance, have gone up by as much as 80-90 basis points (bps), and top recommendation lists of most managers

Bond standoff exposes flawed policy

Sebi is not wrong in expressing a desire to draw an empirical bright line for an outer limit, in order to be able to compute yields, and thereby value the bonds

Best of BS Opinion: Valuing AT1 bonds, SC right to protect IBC, and more

Here's a selection of Business Standard opinion pieces for the day

Explained: What are perpetual bonds & why have new Sebi rules irked FinMin?

Sebi's new rules around mutual fund (MF) investments in these bonds have kicked up a storm

AT1 cloud likely to hit banks' capital-raising plans, say experts

They have planned to raise about Rs 30,000 crore through this route

Valuing AT1 bonds

A sudden change in the metrics will be disruptive

Sebi may tweak AT1 bond rule, looks for middle ground on valuation

Sebi is considering the alternatives with credit-rating agencies, fund houses, and ministry officials

FinMin asks Sebi to withdraw directive on tenure of AT1 bonds

Ministry has asked Sebi to withdraw its directive to mutual fund houses to treat AT-1 bonds as having maturity of 100 years as it could disrupt the market and impact capital raising by banks

Finance Ministry asks Sebi to withdraw circular on AT1 bonds: Report

Panic redemption by mutual funds would impact the overall corporate bond market as MFs may resort to selling other bonds to raise liquidity in debt schemes, says the memorandum

AT1 bonds back as preferred avenue for PSBs to raise capital

Private banks stick to equity capital; fund-raising spree driven by RBI's call for adequate capitalisation

SBI to raise Rs 25,000 crore in AT1, tier II capital in current fiscal

The capital is expected to strengthen the bank's capacity to growth business and create buffers to withstand shocks