BOC to raise Rs. 15 b via listed debentures

Tuesday, 1 April 2025 03:40 - - {{hitsCtrl.values.hits}}

The Bank of Ceylon (BOC) is to raise Rs. 15 billion via a listed debenture issue.

Its Board of Directors has resolved to issue 100 million BASEL III compliant, Tier 2, Listed, Rated, Unsecured, Subordinated Redeemable five-year debentures with Non-Viability Write Down Features at Rs. 100 each, with an option to offer a further 50 million said debentures at the discretion of the bank in the event of an oversubscription of the original amount.

The latest debenture issue is subject to obtaining necessary regulatory approvals.

BOC in September 2024 raised Rs. 15 billion via five-year debentures of three tranches of Rs. 5 billion, each offering 13.50% per annum. The issue drew 52 applications requesting for Rs. 15.03 billion worth debentures.

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