(LBO) Seylan Bank is to issue debenture to raise six billion rupees which will be listed on the Colombo Stock Exchange and a formal application is to be submitted shortly, the bank said in a stock exchange announcement.
The bank plans to offer about 30 million rated senior unsecured redeemable debentures at 100 rupees each.
The bank says it plans to issue another 30 million of said debenture in the event of an over subscription.
The interest rate options and the tenors are to be decided by the board of the bank and will announce prior to the opening of the issue.
The bank issued a listed five debenture issue in early last year and raised two billion rupees.
It offered a fixed rate of 15.5 percent payable annually, a 15 percent fixed rate payable semi annually and a fixed rate 14.5 percent payable monthly.
The bank plans to offer about 30 million rated senior unsecured redeemable debentures at 100 rupees each.
The bank says it plans to issue another 30 million of said debenture in the event of an over subscription.
The interest rate options and the tenors are to be decided by the board of the bank and will announce prior to the opening of the issue.
The bank issued a listed five debenture issue in early last year and raised two billion rupees.
It offered a fixed rate of 15.5 percent payable annually, a 15 percent fixed rate payable semi annually and a fixed rate 14.5 percent payable monthly.
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