DFCC to raise Rs. 8 Bn via debentures

DFCC Bank announced its BASEL III Compliant Convertible Debenture Issue to raise Rs 8 billion to the Colombo Stock Exchange yesterday.

The Colombo Stock Exchange (CSE) has approved in principle an Application for listing the debt securities by the bank. An issue of eighty million (80,000,000) BASEL III compliant – Tier 2, listed, rated, unsecured, subordinated, redeemable debentures with a non-viability conversion (“debentures”), at a par value of LKR 100 each to raise Sri Lankan Rupees eight billion (LKR 8,000,000,000) will be offered.

Maximum issue of debentures will not exceed eighty million (80,000,000) of the said debentures, at a value not exceeding Sri Lankan Rupees eight billion (LKR 8,000,000,000).

Date of opening of the subscription list is January 5, 2024.

The post DFCC to raise Rs. 8 Bn via debentures appeared first on DailyNews.