The unsecured subordinated redeemable debenture issue will be listed on the Colombo Stock Exchange at a later date, officials said.
DFCC, which started off as a government owned development finance institution, also has a AA(lka) rating from Fitch for the bank's long-term senior debt.
In 2003, the DFCC diversified itself by acquiring a small licensed commercial bank, which was renamed as DFCC Vardhana Bank. Business tycoon Harry Jayawardena and his Stassens Group through various subsidiaries and associate companies dominate DFCCs shareholder list. Of this, the Distilleries Group and Hatton National Bank own about 18.7 percent, the life and general funds of Distilleries’ subsidiary, Sri Lanka Insurance Corp, collectively hold a further 11.8 percent.
| CATEGORY | DURATION | RATES |
|
Type A |
5 years | 13.00% |
| Type B | 7 years | 13.25% |
| Type C | 10-years | 14.00 |
| Type D | 5-years | 6-month weighted average treasury bill + 2.00% |
| Type E | 5-years | 6-month weighted average treasury bill + 1.00% |
| Type F | 7-years | 6-month weighted average treasury bill + 2.25% |
| Type G | 7-years | 6-month weighted average treasury bill + 1.25% |
|
(Source :DFCC Bank) |
||