Seylan Bank to sell Rs5bn in listed debt

Apr 20, 2016 (LBO) – Seylan Bank will sell up to five billion rupees in listed debt, the bank said in a statement.

“The Bank’s board has approved to issue three billion rupees of debt with a further option to sell another two 2 billion rupees,” a stock exchange filing said.

The debentures will be issued for tenures of five and seven years and have a coupon on 100 rupees. “The interest rates options will be announced prior to the opening of the issue,” the statement added.