DFCC Bank recently launched its Debenture Issue to raise Rs. 4 billion with an option to go up to Rs.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. [...]

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The Sunday Times Sri Lanka

DFCC Bank launches Rs. 4 bln debenture issue

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DFCC Bank recently launched its Debenture Issue to raise Rs. 4 billion with an option to go up to Rs.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, a bank release said.

The debentures are rated A+ (lka) by Fitch Ratings Lanka Ltd and is attractively structured with 5 year and 7 year tenors.

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 issue will open for subscription on November 2.

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