Wednesday, February 02, 2005
DEG Bank Invests US$ 7.5M in Plantersbank
German Investment and Development Company DEG made a direct investment of US$7.5M in the Tier II capital subordinated notes issued by Planters Development Bank (Plantersbank). DEG was the single largest investor of the oversubscribed capital note with Citigroup as issue manager. Plantersbank recently raised its equity base to better support the financing needs of the SME sector.