IGI Logo

DCB Bank Limited today announced the successful issue and allotment of 9.35% Unsecured, Subordinated, Non-Convertible, Fully Paid-Up, Taxable, Redeemable, Basel III Compliant Tier II Bonds of face value of Rs.1,00,00,000/- (Rupees One Crore Only) each, on a private placement basis, aggregating to Rs. 300 Crore. The Bonds shall be redeemed in accordance with the terms of issue on its original maturity of 10 years, however, a Call Option may be exercised at the sole discretion of the Bank on or after the fifth anniversary from the Deemed Date of Allotment or any coupon payment date thereafter with prior approval of RBI, subject to Tax Call/ Regulatory Call.

The schedule of payment of coupon/interest is semi-annually and the Bonds will be listed on NSE and BSE.

This issuance will support the business growth and also further improve the Capital Adequacy of the Bank. The Bonds raised has a credit rating of AA-/Stable from CRISIL Limited.

We thank all the esteemed investors for the confidence shown in the Bank.

Above views are of the author and not of the website kindly read disclaimer