DCB Bank raises Rs 300 cr via bonds

Private sector lender DCB Bank today said it has 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 said in a BSE filing.
These bonds will carry with interest rate of 9.85 per cent per annum for a period of ten years from November 17, 2017.