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DCB Bank raises Rs 150 crore via bonds

Private sector lender DCB Bank today said it has raised Rs 150 crore through issuance of bonds on a private placement basis.

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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 to Rs 150 crore on private placement basis".

These bonds carry an interest rate of 9.85 per cent per annum for a period of ten years from January 12, 2018.

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

Earlier, DCB Bank had raised Rs 300 crore through issuance of bonds on a private placement basis.

"The capital raising committee (CRC) of Board of Directors of the Bank...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 each (bonds) at par aggregating to Rs 300 crore on private placement basis," DCB Bank then said. 

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