DCB Bank raises Rs 150 cr via bonds

NEW DELHI, Jan 15: 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.(PTI)