Bank of Ceylon debenture raises Rs. 8 bln on the opening day itself
View(s):Bank of Ceylon, Sri Lanka’s biggest bank on its 75th year, on Tuesday opened its 6th listed rupee debenture issue for subscription and found it oversubscribed (Rs. 4 billion plus an option of another Rs.4 billion) on the opening day itself.
“The first listed debenture issue of the bank was offered to the public in 2008 to raise Rs.4 billion and was redeemed in November, 2013 on maturity to the very satisfaction of all parties concerned,” the bank said.
The issue was for an initial offering of Rs. 4 billion with an option to increase it up to Rs. 8 billion in the event of an oversubscription. The subordinated, redeemable, unsecured debentures rated AA by the Fitch Ratings Lanka Ltd are to be listed on the Colombo Stock Exchange in accordance with the provincial approval obtained.