India’s DCB Bank approves Rs. 1.5 billion private sale of tier 2 bonds

By Sarah Lizee

Olympia, Wash., Jan. 9 – DCB Bank Ltd. informed the Bombay Stock Exchange that its executives approved raising up to Rs. 1.5 billion of unsecured nonconvertible tier 2 bonds.

The notes, which were approved in a meeting held on Tuesday, will be issued in a private placement.

Terms of the issue will be decided by the chairman, chief executive officer and/or chief financial officer, according to the notice by the commercial bank based in Mumbai.

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