DEBT CAPITAL MARKETS Advantage Debt Capital Markets @ YES BANK § Integrated approach of end to end Origination to Distribution resulting in efficient execution of mandates § Deep knowledge of the underlying market dynamics and strong structuring capabilities § Leveraging a strong in-house INR rates research team; supplemented by comprehensive coverage of Corporates through pro- active relationship teams § Ability to originate transactions for a wide range of issuers, across various sectors including Automobiles, Cement, Fertilizers, Infrastructure, Pharmaceuticals, Power and Retail etc § Superior Distribution Capabilities with strong relationships across various investor categories including Banks, Financial Institutions, Mutual Funds, Insurance Companies, Non Banking Finance Companies, Provident & Pension Funds, Foreign Portfolio Investors and Private Wealth Managers 40.0% YES BANK’s outperformance vis-à-vis market 35.0% Banks / Mutual 30.0% Funds 25.0% Insurance Indian Pvt. & PSU Companies INVESTORS 20.0% Corporates 15.0% YES BANK PensionProvident/ Funds 10.0% ISSUERS Non Banking Product Suite Finance Cos. Securitisation 5.0% Preference Shares Foreign Portfolio INR Bond Underwriting/ Syndication Investors 0.0% Financial Investment Advisory & Value Added Offerings Total issuance volume Pvt sector issuance volume Institutions Market YBL Domestic PSUs Emerging Business Houses Entrepreneurs CAGR over the last five years of the total market issuance volume and YES BANK’s origination volume RELATIONSHIPS Corporate Bond issuance volumes in the market 400,000 Debt Capital Markets @ YES BANK 350,000 300,000 250,000 Corporate Bond Market Landscape 200,000 § Increasing trend of Indian Corporates accessing the INR 150,000 denominated bond market 100,000 § Corporate Bond Issuance as a % of Incremental Non Food 50,000 Credit extended by Banks increased from 36% in FY2010 to 0 62% in FY2015 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 Market issuance Pvt sector issuance Source: PRIME Database; issuance volume in INR crores Debt Capital Markets @ YES BANK and Market Developmental Role Steady growth in Origination volumes & improving market share by YES BANK across years § Emerged as a leading and buoyant Debt Capital Market 120,000 35.0% franchise over the last 10 years 100,000 30.0% § Introduced many first time issuers to the INR bond market 25.0% 80,000 § One of the few active market makers in the domestic market 20.0% 60,000 § Active role in devising Corporate Bond trading platform 15.0% 40,000 § Representation on the Board of Fixed Income Money Market 10.0% 20,000 and Derivatives Association (FIMMDA) for 7 years in the past 5.0% § Active contributor to various decisions related to 0 0.0% development of corporate bond market in India FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 YBL origination volume (INR crores) Market share 41 First Time Issuers YES BANK guides Issuers through the entire issue related documentation, relevant regulatory guidelines, introduces the Issuer to capital market investors by way of one-on-one meetings with large investors, interfaces and liaises with all external counterparties involved to ensure meeting of issue timelines and successful closure of the Issue Reliance L&T Metro Rail Suraksha Realty Arvind Lifestyle Hyderabad Ltd Innoventures Pvt Aditya Birla Retail L&T Vrindavan Hypercity Retail Ltd. Ltd. Brands Ltd. Sole Arranger Ltd. Properties Ltd. (India) Ltd. Sole Arranger Sole Arranger Sole Arranger INR 2.50 Bn Sole Arranger Sole Arranger Sole Arranger INR 0.50 Bn 20 yr with 10 yr INR 3.50 Bn INR 0.75 Bn INR 5.00 Bn INR 2.00 Bn INR 0.50 Bn 2 Year NCDs (Backed PUT/ CALL option Backed by Share 3 yr Bond Issue 3 yr Bond Issue 3 yr Bond Issue 3/4/5 Yr Bond Issue Bond Issue pledge by Share pledge) 2015 2015 2015 2014 2014 2014 2014 Raymond Ltd. Hero Fincorp Mahindra Vehicles Oriental Hotels Tata Sky Ltd. HPCL-Mittal Intas Pharmaceuticals Ltd. Sole Arranger Ltd. Manufacturers Ltd. Ltd. Sole Arranger Pipelines Ltd. Sole Arranger INR 1.60 Bn Joint Arranger Joint Arranger INR 1.00 Bn Joint Arranger Sole Arranger INR 1.05 Bn INR 0.50 Bn 5 year with 3 Yr INR 12.75 Bn 3Yr Bond Issue INR 8.00 Bn INR 1.00 Bn Put/Call Bond 10Yr Bond Issue 5 year with 3 yr 3Yr Bond Issue 2013 3/4/5Yr Bond Issue 3Yr Bond Issue Issue 2012 Put/Call Bond Issue 2012 2012 2012 2012 2009 Repeat Mandates YES BANK has been mandated for repeat issuances by many pedigree issuers owing to the quick turn around time, better price discovery and effective handling of past issuances in the secondary market PVR Ltd. Talwandi Sabo Reliance Broadcast United Sterlite Tata Tata Teleservices L&T Seawood Raymond Mahindra Finance Power Ltd. Network Ltd. Phosphorus Ltd. Industries Ltd. Motors Ltd. Ltd. Pvt Ltd. Ltd. Services Ltd. IL&FS Prism Intas Tata Hero Tata Deepak Reliance Ports & Trent Ltd. Birla Grasim Transportation Cement Pharmaceuticals Ltd. Steel Ltd. Fincorp Ltd. Power Ltd. Fertiliser Terminals Ltd. Corporation Ltd. Industries Ltd. Milestone Transactions Mahindra & Mahindra Ltd. Reliance Utilities & Power Reliance Ports & TATA Power Ltd. INR 5.00 Bn Pvt. Ltd. Terminals Ltd. INR 15.00 Bn ‘AA+’ 50 Yr Unsecured Bond INR 20.00 Bn INR 25.00 Bn ‘AA’ Perpetual Unsecured Issue ‘AAA’ 10 Yr Secured Bond Issue ‘AAA’ 10 Yr Secured Bond Issue Subordinate Debt Issue Sole Arranger Sole Arranger Sole Arranger Joint Arranger July 2013 April 2013 July 2011 June 2011 Longest tenor senior, bullet Single largest Long Tenor Issuance Single largest Issuance at the time of First ever perpetual bond issuance maturity debt issuance ever in the by a private ltd. company, solely Issue by a private sector Issuer, to be accorded 50% equity credit history of Indian Capital Markets underwritten by a single bank solely underwritten by a single Bank by the credit rating agency 42 Public Sector Corporates Rural Electrification NTPC Ltd. Power Finance IREDA Ltd. PNB Housing NABARD HUDCO Corporation Ltd. Corporation Ltd. Finance Ltd NHPC Ltd. CPCL Power Grid India Infrastructure IFCI Ltd. SAIL Indian Railway EXIM Bank Corporation Finance Company Ltd. Finance Corporation Ltd. of India Ltd. Gail Airports Authority TNPL National SIDBI National Capital Region NPCIL of India Housing Bank Planning Board Public Sector Banks Bank of Baroda Vijaya Bank IDBI Bank Canara Bank Oriental Bank Bank of Baroda Allahabad Bank State Bank of Patiala of Commerce Bank of India United Bank of India Central Bank of India Indian Bank Indian Overseas Bank Syndicate Bank State Bank of India Repeat Mandates Raymond Ltd. Reliance Broadcast PVR Limited TATA Power Company Ltd. Talwandi Sabo Power Ltd. Year :2015 Network Ltd. Year : 2014 INR 1.00 Bn; 3 Yr Bond Issue Year : 2015 Joint Arranger INR 15 Bn Year : 2014 Year : 2014 Year : 2015 INR 0.75 Bn; 3.5 Yr Bond Issue Sole Arranger INR 0.5 Bn 3/5 year Bond Issue Sole Arranger INR 3.0 Bn Year : 2013 Sole Arranger INR 1.50 Bn 6/7 Year Bond Issue Year : 2012 2/3 Year Bond Issue INR 1 Bn; 3 Yr Bond Issue 3/4/5 year Bond Issue Sole Arranger INR 15 Bn INR 0.3 Bn; 2 Yr Bond Issue Year : 2014 60 year Subordinate Bond Issue Sole Arranger INR 2.0 Bn INR 0.35 Bn; 3 Yr Bond Issue Year : 2012 Sole Arranger INR 1.0 Bn Year : 2011 3 Year Bond Issue Year : 2012 5/6/7 Year Bond Issue Joint Arranger INR 15 Bn INR 1 Bn; 3 Yr Bond Issue Sole Arranger INR 1.50 Bn INR 0.75 Bn; 2 Yr Bond Issue 3 Year Bond Issue Perpetual Bond Issue Ports and Terminals Limited Hero Fincorp Ltd. IL&FS Transportation Sterlite Industries Ltd. Reliance Ports & TATA Motors Ltd. Networks Ltd. Year : 2013 Terminals Ltd. Year : 2013 Joint Arranger INR 25.00 Bn Year : 2013 Sole Arranger INR 1.0 Bn Year : 2013 10 yr with 5 yr Put/Call Bond Issue Year : 2013 Sole Arranger INR 3.00 Bn Sole Arranger INR 7.50 Bn 2yr Bond Issue 3 Year Bond Issue Joint Arranger INR 2.53 Bn Joint Arranger INR 40.00 Bn 10 yr with 5 yr Put/Call Bond Issue 10yr Bond Issue 3.5 year & 5 year Preference Year : 2012 Year : 2010 Year : 2012 Share Issue Sole Arranger INR 5.00 Bn Year : 2012 Sole Arranger INR 1.00 Bn Sole Arranger INR 0.5 Bn 10 yr with 5 yr Put/Call Bond Issue Sole Arranger INR 25.00 Bn 10yr Bond Issue 3 Year Bond Issue Joint Arranger INR 6.0 Bn Sole Arranger INR 5.00 Bn 10yr Bond Issue Sole Arranger INR 1.50 Bn 6 year Bond Issue 10 yr with 5 yr Put/Call Bond Issue 10yr Bond Issue 43 Repeat Mandates United Phosphorus Ltd. L&T Seawoods Pvt. Ltd TATA Teleservices Ltd. Year : 2012 Intas Pharmaceuticals Ltd. TATA Steel Ltd. Sole Arranger INR 3.00 Bn Year : 2013 Year : 2013 7 & 10 yr Bond Issue Year : 2013 Year : 2012 Sole Arranger INR 2.50 Bn Sole Arranger INR 5.00 Bn Year : 2011 Joint Arranger INR 0.90 Bn Joint Arranger INR 15.00 Bn 3.5yr Bond Issue 3/4/5 yr Bond Issue Sole Arranger INR 2.50 Bn 3yr Bond Issue 10yr Bond Issue 15 yr with 10 yr call Bond Issue Year : 2012 Year : 2010 Year : 2010 Year : 2009 Sole Arranger INR 10.00 Bn Sole Arranger INR 1.00 Bn Sole Arranger INR 5.00 Bn Sole Arranger INR 3.00 Bn Joint Arranger INR 1.05 Bn 6 & 8yr Bond Issue 2.5yr Bond Issue 15 yr with 10 yr Call Bond Issue 8/9/11/12 year Bond Issue 3yr Bond Issue Sole Arranger INR 5.00 Bn 7 /10 yr with 5/7 yr call Bond Issue Prism Cement Ltd.