Sampath Bank goes for Rs. 7 b BASEL III compliant debentures

Sampath Bank (SAMP) has announced that its Board of Directors have decided to issue 50 million five-year listed, rated, unsecured, subordinated, redeemable, Basel III compliant convertible debentures at Rs. 100 each with options to issue up to a further 20 million debentures in the event of an oversubscription of the original amount.

The issue is subject to CSE approval. The previous BASEL III compliant debenture issue Sampath Bank had was in March worth Rs. 7.5 billion.