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Sri Lanka’s DFCC to sell Rs7bn in bail-in bonds

ECONOMYNEXT – Sri Lanka’s DFCC Bank said it has received approval from the Colombo Stock Exchange to sell up to 7.0 billion rupees in bail-in bonds.

The bank will offer 5.0 billion rupees in bond on October 12 and offer another 2.0 billion rupees if the first tranche is oversubscribed.

The Basel III compliant subordinated bonds will be converted to equity in the event of non viability.

The issue is managed by NDB Investment Bank and Acuity Partners (Pvt) Ltd. (Colombo/Oct02/2020)