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Sri Lanka's DFCC Bank to issue 7B rupees of debentures

Sri Lanka-based DFCC Bank Plc plans to issue up to 7 billion rupees of Basel III-compliant redeemable debentures.

The unsecured subordinated debentures will have a term of up to seven years, according to a Feb. 19 release.

As of Feb. 19, US$1 was equivalent to 155.46 Sri Lankan rupees.