Sri Lanka’s Commercial Bank to raise Rs7bn from listed debenture

Oct 14, 2016 (LBO) – Sri Lanka’s Commercial Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. The bank has decided to issue rated, unsecured, subordinated, redeemable debentures worth 5.0 billion rupees with an option to go up to 7.0 billion rupees. The proposed issue will be carried out after obtaining necessary regulatory approvals, the bank said. Fitch Ratings Lanka assigned the proposed Basel II-compliant subordinated debenture, a final National Long-Term Rating of AA-(lka). Date of opening of the subscription list is 24th October 2016.
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