Seylan Bank opts for Rs. 5 b BASEL III debenture

Seylan Bank has decided to raise Rs. 5 billion via BASEL III compliant debentures. 

It plans to offer 50 million rated, unsecured, subordinated, redeemable BASEL III compliant debentures at Rs. 100 each. The tenor will be five years, and the interest rate option/coupon will be decided by Seylan Board prior to the opening of the issue. 

The issue is subject to CSE approval.

In March, Seylan raised Rs. 6.23 billion via a BASEL III debenture issue.