Sri Lanka, May 7 -- Bank of Ceylon will raise Rs. 15 billion via five-year BASEL III compliant, Tier 2 listed, rated, unsecured, subordinated debentures with non-viability write down features.
In a filing to the Colombo Stock Exchange (CSE), BOC said it will initially offer 100 million debentures at an issue price of Rs.100 each securities to raise Rs. 10 billion. A further 50 million debentures would be issued at the discretion of the bank to raise another Rs. 5 billion. The subscription list opens on May 15.
While the type A bonds will pay 11.25 percent, the type B bonds will pay 12-month Treasury bill yield plus 1 percent payable annually.
The debentures have been assigned a final National Long-Term Rating of 'A(lka)' by Fitch Ratings...