Sampath Bank to raise Rs7bn from listed debenture

Oct 05, 2015 (LBO) – Sri Lanka’s commercial bank sector player Sampath Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing.

Sampath Bank has decided to issue 50 million debentures at 100 rupees each with an option, to issue up to a further 20 million debentures in the event of over subscription, subject to the necessary regulatory approvals.

The bank had two debenture issues in the past two years which raised 11.0 billion rupees.

Last week, a listed debenture offer for island’s state owned Bank of Ceylon was oversubscribed receiving over 8.0 billion rupees worth applications.