Money & Banking

DCB Bank raises Rs 150 cr via bonds

PTI New Delhi | Updated on January 15, 2018 Published on January 15, 2018

Private sector lender DCB Bank today said it has raised Rs 150 crore through issuance of bonds on a private placement basis. The bank in a regulatory filing said that the capital raising committee of its board of directors issued and “allotted 15,000 non-convertible, redeemable, unsecured, Basel-III compliant tier 2 bonds, for inclusion in tier 2 capital of the bank in the nature of debentures of the face value of Rs 1 lakh each at par aggregating Rs 150 crore on private placement basis“. These bonds carry an interest rate of 9.85 per cent per annum for a period of 10 years from January 12, 2018.

Shares of DCB Bank were trading 0.12 per cent lower at Rs 200.70 on the BSE.

Published on January 15, 2018
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