DFCC to raise Rs. 7 b via Basel III compliant debentures

Friday, 5 January 2018 00:00 - - {{hitsCtrl.values.hits}}

DFCC Bank’s Board of Directors has resolved to raise Rs. 7 billion via Basel III compliant debentures.

It is proposed to issue 50 million subordinated, listed, rated, unsecured, redeemable debentures with a non-viability conversion option at Rs. 100 each with a term of up to seven years, with an option to issue a further 20 million debentures in the event of an oversubscription of the original amount.

The move is subject to regulatory and other approvals.