DCB Bank announces allotment of Tier II Bonds on private placement basis
Mumbai, March 28, 2023: 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.
About DCB Bank
DCB Bank Limited is a new-generation private sector bank with 418 branches across India (as on 31st December 2022). A scheduled commercial bank regulated by the Reserve Bank of India, it is professionally managed and governed. DCB Bank has contemporary technology and infrastructure, including DCB Internet Banking for personal as well as business banking customers and DCB Mobile Banking. The Bank’s business segments comprise retail, micro-SMEs, SMEs, mid-corporate, microfinance institutions (MFIs), agriculture, commodities, government, public sector, Indian banks, cooperative banks, and non-banking finance companies (NBFCs). DCB Bank has more than 10,00,000 active customers.
For more details,
please visit www.dcbbank.com
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