DCB Bank raises Rs 300 crore

Through issue of Tier 2 Bonds

DCB Bank announced that the Capital Raising Committee (CRC) of Board of Directors of the Bank, by a resolution passed in the meeting held on 18 November 2017 has issued and allotted 30,000 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.1,00,000/- (Rupees One Lakh only) each ('Bonds') at par aggregating to Rs. 300 crore (Rupees Three Hundred Crores only) in dematerialized form to the identified investor(s) on Private Placement basis with interest @ 9.85% per annum for a period of ten years from 17 November 2017 (the Deemed Date of Allotment).

The Bonds have been rated '[ICRA] A+ (hyb)' for Bond Programme of Rs.150 crores vide letter dated 17 November 2017 and the rating as '[ICRA] A+(hyb)'for Bond Programme of Rs. 400 crore, by ICRA dated 06 November 2016, has been revalidated vide letter dated 15 November 2017.

 

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