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Sri Lanka DFCC Bank’s debentures oversubscribed on opening day

ECONOMYNEXT – Sri Lanka’s DFCC Bank said its Basel III compliant Tier 2 debenture issue to raise up to Rs 7 billion was oversubscribed on the opening day Monday.

The bank offered an 50 million debentures at the par value of Rs100 each with an option to issue a further 20 million in the event of an over-subscription.

A stock exchange filing said DFCC Bank got applications for over Rs7 billion for the debentures and issue closed the same day.

NDB Investment Bank and Acuity Partners acted as the Joint Managers to the debenture issue, rated A+ (lka) by Fitch Ratings Lanka Limited.
(COLOMBO, March 27, 2018)

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