Wed, 07 Dec 2022 Today's Paper

DFCC Bank launches LKR 4 billion debenture issue

25 October 2016 03:29 pm - 0     - {{hitsCtrl.values.hits}}

A A A

DFCC Bank has launched its Debenture Issue to raise LKR 4 billion with an option to go up to LKR 7 billion in the event of an over subscription. The purpose of this Issue is to strengthen the Tier II capital of the Bank while supporting its lending operations in the Corporate, Business and SME sectors. In addition, it will mitigate DFCC’s interest rate risk by reducing asset and liability maturity mismatches.

The Debentures are rated A+ (lka) by Fitch Ratings Lanka Ltd and is attractively structured with 5 year and 7 year tenors, carrying fixed annual coupons of 12.15% and 12.75%.

Speaking on the Issue, Kapila Nanayakkara - Head of Treasury and Resource Mobilisation of DFCC Bank said, “The decision to go public with this Issue is to give alternative investment opportunities to retail and institutional investors. They could earn a fixed rate of return over a period of 5 years or 7 years depending on their appetite.”

The Subordinated, Redeemable and Unsecured Debentures will be listed in the Colombo Stock Exchange, where the minimum subscription is LKR 10,000. The Issue will open for subscription on 2 November 2016.

The Issue is structured by DFCC Bank’s Treasury and Resource Mobilisation Unit and managed by Capital Alliance Partners Limited and Acuity Partners (Pvt) Ltd.

 


Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

Economy Decoded! Let’s talk about tax!

We explain the proposed new tax reforms in Sri Lanka and what it means

She said/He said

Much has been written and said in the last few days since the news was releas

POLICE ON TRIAL: Exercising Authority without Accountability

Although armed with the power of the State and empowered to use force against

Downfall and death of LTTE’s Mahathaya

The Liberation Tigers of Tamil Eelam (LTTE) ceased to exist as a functioning