COMBank goes for Rs. 10 b BASEL III compliant debenture issue

Monday, 29 January 2018 01:00 - - {{hitsCtrl.values.hits}}

Commercial Bank on Friday announced plans to raise Rs. 10 billion via a BASEL III compliant debenture issue.

It hopes to issue 50 million listed unsecured rated redeemable subordinated BASEL III compliant debentures of Rs. 100 each with a non-viability conversion feature amounting to Rs. 5 billion with an option to issue a further 50 million debentures in the event of an oversubscription. The tenure will be a minimum of five years and a maximum of 10 years.

The issue is subject to shareholder and regulatory approval.

On Friday Commercial Bank also announced a Second Interim dividend of Rs. 3 per share.

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