Fitch Ratings has assigned Sampath Bank’s Basel II-compliant subordinated debentures of up to Rs 6 bn, a final National Long-Term Rating of ‘A(lka)’.
The final rating is the same as the expected rating assigned on April 26, 2016 and follows the receipt of documents conforming to information already received.
The debentures will mature in five years and carry fixed and floating coupons. Sampath Bank plans to use the proceeds to strengthen its Tier 2 capital base. The debentures are to be listed on the Colombo Stock Exchange.
The issue is rated one notch below Sampath Bank’s National Long-Term Rating to reflect the subordination to senior unsecured creditors.
The Outlook is Stable.
www.dailynews.lk
The final rating is the same as the expected rating assigned on April 26, 2016 and follows the receipt of documents conforming to information already received.
The debentures will mature in five years and carry fixed and floating coupons. Sampath Bank plans to use the proceeds to strengthen its Tier 2 capital base. The debentures are to be listed on the Colombo Stock Exchange.
The issue is rated one notch below Sampath Bank’s National Long-Term Rating to reflect the subordination to senior unsecured creditors.
The Outlook is Stable.
www.dailynews.lk
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