DFCC to raise Rs. 8 b via BASEL III listed debentures

Friday, 22 December 2023 00:26 -     - {{hitsCtrl.values.hits}}

The DFCC Bank aims to raise Rs. 8 billion via the latest debenture issue. It will issue 80 million BASEL III compliant Tier 2, listed, rated, unsecured, subordinated, redeemable debentures with a non-viability conversion at Rs.100 each.

The issue can be subscribed from 29 December onwards while its official opening day is 5 January 2024. Joint managers to the issue are Capital Alliance Ltd., and Acuity Partners Ltd. Fitch Ratings has assigned DFCC Bank PLC’s (A-(lka)/Stable) proposed debentures a final National Long-Term Rating of ‘BBB(lka)’. The proposed debentures  mature in five and seven years. DFCC plans to use the proceeds to strengthen its Tier 2 capital base and support loan growth.

 

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