Sri Lanka’s Bank of Ceylon to raise 5bn through debenture issue

The Bank of Ceylon plans to issue BASEL III compliant debentures with non-viability write down features, to raise 5 billion rupees.

The Colombo Stock Exchange has approved in principle the application for listing of the debt securities, a statement on the CSE said.

Details of the issue were given as follows:
“Issue of 50,000,000 Basel III compliant tier 2 listed rated unsecured subordinated redeemable 5-year debentures with non-viability write down features at an issue price of LKR100 each to raise a sum of up to 5 billion rupees (LKR 5,000,000,000),”

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