The board of directors of DCB Bank on Saturday approved the proposal for exercise of call option on its Non-Convertible, Redeemable, Unsecured, Basel III Compliant Tier-2 Bonds aggregating ₹450 crore.
The call option date for subordinated debt amounting to ₹300 crore, which was issued on November 17, 2017, is November 17, 2022, as per the private sector bank’s exchange filing.
The call option date for subordinated debt amounting to ₹150 crore, which was issued on January 12, 2018, is January 12, 2023.
“The redemption amount of the above Bonds (Principal + Interest) shall be determined till the preceding day of the aforesaid Call option dates. “It may also be noted that the actual exercise of Call Options and payment of redemption amount would be made subject to receipt of the regulatory approval and compliance of conditions stipulated therein,” the Bank said.