BOC goes for Rs. 20 b BASEL III compliant unlisted debenture

Bank of Ceylon is planning to raise Rs. 20 billion via BASEL III compliant, tier 2, unlisted, rated, unsecured, subordinated, redeemable debentures with a non-viability write down feature.

It will issue 200 million of said debentures at Rs. 100 each.

There are three types of debentures - Type A five year tenor 29% per annum fixed rate payment annually; Type B five year AWPLR + 2% per annum floating payable bi-annually and Type C eight year AWPLR+2.50% per annum floating payable bi-annually.

The issue opens on 19 December 2022 and closes on 31 December 2022 or earlier date on which it is fully subscribed or part thereof. The issue of debentures is confined to Qualified Investors.