Sri Lanka, Nov. 10 -- Bank of Ceylon (BOC) announced it would raise up to Rs.10 billion through the issuance of Basel III-compliant, Tier 2, listed, rated, unsecured, subordinated, redeemable five-year sustainability bonds, with non-viability write-down features.
The board of directors has approved an initial offering of 100 million bonds, at Rs.100 each, with options to issue a further 50 million bonds in two tranches, potentially raising an additional Rs.10 billion, if the demand exceeds the initial allocation.
The move positions BOC to strengthen its capital base while aligning with sustainability-focused financing. The issuance remains subject to approval from the relevant regulatory authorities.
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