CEB to raise up to Rs. 20 bln through stock market

News

The Colombo Stock Exchange (CSE) has approved an application by the Ceylon Electricity Board (CEB) to issue Senior Unsecured Listed Redeemable Rated Debentures at an Issue Price of Rs. 100 amounting to a potential capital raising of up to Rs. 20 billion.

The debentures will be issued for period of 5 years with a fixed coupon interest rate of 9.35% p.a. (AER 9.35%) to be paid annually. The issue will open on April 8, 2021, the CSE said in a media release on Thursday..

The initial issue will consist of 100 million debentures with an option to issue up to a further 100 million debentures at the discretion of the CEB in the event of an oversubscription of the initial Issue. This will pave the way for CEB to raise Rs. 10 billion in capital initially with an option to raise a further Rs. 10 billion subsequently. The debentures carry a rating of AA-(lka) by Fitch Ratings Lanka Limited while CEB is rated as AA-(lka) with a Stable Outlook by the same rating agency.

Commenting on the development, CSE CEO Rajeeva Bandaranaike said, “We are pleased to note that the CEB is opting to finance its capital requirements through the Sri Lankan stock market. This once again demonstrates the confidence placed in the Sri Lankan stock market by both private and state institutions as an effective and efficient source of capital raising. We welcome other state institutions to strongly consider the Sri Lankan stock market as a vehicle to finance growth and development.”

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

May 31, 2025

- 506 - 0

Flt Lt Kasun Cumaratunga , more than a pilot, a guardian remembered on his 37th death anniversary

Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred

June 2, 2025

- 473 - 0

National Tax week launched

The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.

June 2, 2025

- 373 - 0

SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.

June 3, 2025

- 218 - 0

Krishanthi Kumaraswami convicts FR dismissed by SC

The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.

June 6, 2025

- 216 - 0

SriLankan flight grounded in Indonesia

A SriLankan airlines flight has been grounded in an airport in Indonesia due to a technical defect leaving 93 passengers stranded, an official said.

June 5, 2025

- 176 - 0

Alert Moratuwa resident averts railway derailment

The actions of a resident in Egoda Uyana, Moratuwa helped to avoid a possible railway accident involving an office train on the southern coastal line today, the Railway Department said.