March 11, 2020 / 9:22 AM / 24 days ago

Deal with bondholders opposed to rescue plan "in process" - India Yes Bank administrator

MUMBAI, March 11 (Reuters) - A deal with some bondholders of Yes Bank who have opposed a state-led rescue is being discussed, the bank’s administrator said on Wednesday, a move that could clear the way for a restructuring of the troubled lender.

“We are in the process,” Prashant Kumar, the administrator, told Reuters, adding he hoped a deal would be reached later on Wednesday or on Thursday. He declined to provide details of the agreement under negotiation.

Reporting by Alexandra Ulmer Editing by Abhirup Roy and Louise Heavens

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