DFCC Bank to raise Rs.8bn via listed debt

DFCC Bank yesterday disclosed plans to raise Rs.8 billion through a listed debenture issue.
The bank yesterday said it received in-principle approval from the Colombo Stock Exchange (CSE) to list the debt instruments on the CSE.
The bank plans to issue Rs.80 million Basel III-compliant tier 2, listed, rated, unsecured, subordinated, redeemable debentures, with a non-viability conversion, at a par value of Rs.100 each.
The subscription list of the issue will officially open on January 4, 2024.
Capital Alliance Partners and Acuity Partners act as the joint managers of the issue while S S P Corporate Service is the registrar to the issue.