Sri Lanka, May 1 -- Merchant Bank of Sri Lanka & Finance PLC (MBSL), a subsidiary of Bank of Ceylon, has unveiled plans to raise up to Rs, 1 billion through the issuance of unsecured subordinated redeemable debentures.
The board-approved proposal includes an initial offering of five million debentures priced at Rs.100 each, totaling Rs. 500 million. MBSL retains the option to issue an additional five million debentures under the same terms in case of oversubscription, potentially doubling the total fundraising to Rs.1 billion. The debentures will carry five-year tenure and are structured as unsecured, subordinated instruments.
The proposed debenture issue is subjected to regulatory approvals including Central Bank and Colombo Stock Exch...