Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Negative) proposed Basel III compliant subordinated debentures an expected National Long-Term Rating of ‘A(lka)(EXP)’.
The notes, the first Basel III compliant subordinated debt in Sri Lanka, will total Rs 6 billion, mature in five years and carry fixed coupons. The notes include a non-viability clause and will qualify as regulatory Tier II capital for the bank. The bank plans to use the proceeds to support its loan book expansion and to strengthen its Tier II capital base. The debentures are to be listed on the Colombo Stock Exchange.
The final rating is subject to the receipt of final documentation conforming to information already received.
www.dailynews.lk
The notes, the first Basel III compliant subordinated debt in Sri Lanka, will total Rs 6 billion, mature in five years and carry fixed coupons. The notes include a non-viability clause and will qualify as regulatory Tier II capital for the bank. The bank plans to use the proceeds to support its loan book expansion and to strengthen its Tier II capital base. The debentures are to be listed on the Colombo Stock Exchange.
The final rating is subject to the receipt of final documentation conforming to information already received.
www.dailynews.lk
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