Sri Lanka’s Bank of Ceylon announces debenture issue basis of allotment

Bank of Ceylon said investors who have applied up to and inclusive of 20,000,000 Type A Debentures will be allotted 100% of debentures applied.

Bank of Ceylon had an initial issue of 50 million Basel III compliant tier 2 listed rated unsecured subordinated redeemable 5-year debentures with non-viability write down features at an issue price of LKR 100 each.

The bank said this was to raise a sum of up to LKR5bn; with an option to issue a further 50 million debentures to increase a further LKR5bn, in the event of an oversubscription of the initial issue.

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