Ceylon Finance Today: Commercial Bank of Ceylon plc yesterday informed the Colombo Stock Exchange (CSE) that it plans to raise Rs seven billion by selling debentures to the market.
The issue, once the necessary approvals are obtained, will comprise Rs five billion worth of debentures with an option to go up to Rs seven billion in the event of oversubscription, the Bank's Managing Director/CEO Jegan Durairatnam informed the CSE.
In other developments, BRAC LANKA Finance plc, an LOLC subsidiary, told the CSE that it has received a loan amounting to Rs 563 million from its parent, to meet its working capital needs. BRAC said that the interest charged on this loan is AWPLR + 4.5%.
BRAC further said that the loan is more than 10% of the equity and 5% of its asset base. (PGA)
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The issue, once the necessary approvals are obtained, will comprise Rs five billion worth of debentures with an option to go up to Rs seven billion in the event of oversubscription, the Bank's Managing Director/CEO Jegan Durairatnam informed the CSE.
In other developments, BRAC LANKA Finance plc, an LOLC subsidiary, told the CSE that it has received a loan amounting to Rs 563 million from its parent, to meet its working capital needs. BRAC said that the interest charged on this loan is AWPLR + 4.5%.
BRAC further said that the loan is more than 10% of the equity and 5% of its asset base. (PGA)
www.ceylontoday.lk
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