DCB Bank has raised Rs.150 crore via issuance of bonds on a private placement basis.

In a regulatory filing the bank stated 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.”

Furthermore, these bonds have an interest rate of 9.85% per annum for a period of 10 years from January 12,2018.

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