UAE’s CBD shareholders reject $750 mln Tier 1 bonds

14/09/2015 Argaam

A proposal by Commercial Bank of Dubai (CBD) to raise a $750 million bond to boost its capital reserves was rejected by shareholders at a general assembly meeting on Sunday.

 

The special resolution proposed by CBD’s board of directors relating to the issuance of Tier 1 Capital Perpetual Securities for an amount up to $750 million was rejected by 39.24 percent of shareholders present at the meeting, the bank said in a statement on Monday to the Dubai Financial Market where it is listed.

 

CBD said in August that its board had proposed the Basel III-compliant bond, subject to shareholder and regulatory approval.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.