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.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.