Development Credit Bank raises subordinate debt of Rs 66 crore
By Mumbai: | 05 Apr 2003
Mumbai: Development Credit Bank Ltd (DCB) has raised a fresh subordinate debt of Rs 66 crore through private placement to fund its large-scale expansion plans.
The tier-II capital was raised at a rate of 8 per cent for a tenor of 63 months, as on 31 March 2003, said a press release.
The original issue size was Rs 50 crore and had a green-shoe option.