Demand for DFCC debenture issue tops Rs. 5 b mark

DFCC Bank said that its Rs. 7 billion debenture issue has surpassed the Rs. 5 billion mark as of yesterday.

The issue was 50 million rated, senior, unsecured, redeemable debentures of Rs. 100 each with an option to offer a further 20 million debentures in the event of an oversubscription of the original amount.

DFCC said yesterday it had received applications for over 50 million debentures and the issue was oversubscribed.

It also said the issue will be closed at 4.30 p.m. today (11 March) as per the prospectus and will accept applications received until such time.