Carlyle, Advent get conditional nod from India's RBI to buy Yes Bank stake

BY Reuters | ECONOMIC | 12/01/22 05:42 AM EST

BENGALURU, Dec 1 (Reuters) - Private equity firms Carlyle Group Inc (CG) and Advent International have received conditional approvals from India's central bank to buy stakes in Yes Bank, the private-sector lender said on Thursday.

"The investors are evaluating the conditions," Mumbai-based Yes Bank said, adding they will engage with the Reserve Bank of India to seek an early resolution of the conditions and get a final approval on the acquisition. (Reporting by Chris Thomas in Bengaluru; Editing by Dhanya Ann Thoppil)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article