Sri Lanka Bank of Ceylon bond sale extended

Standing left to right – Mr. Dinesh Jebamani (Chief Manager Liability Product Management and New Age Media – Seylan Bank), Mr.Sudesh Peiris (Senior Manager – Digital Banking Channels – Seylan Bank), Ms. S.Senevirathne (Representative of the Revenue Department – Western Province), Mr. Tilan Wijeyesekera (Deputy General Manager – Retail Banking – Seylan Bank) and Mr. Malik Wickremanayaka (Deputy General Manager – Operations – Seylan Bank)

June 15, 2010 (LBO) – Sri Lanka’s state-run Bank of Ceylon said it was keeping a debenture issue open for more applications after applications topped an initial target of 3.0 billion rupees. A floating rate bond was priced 0.75 percent above the gross 6-month Treasury bill yield.

The bank said its listed 5-year debenture issue had attracted 122 applications valued at 3,085 million rupees.

The bank said it was keeping the issue open for another 2.0 billion rupees of applications or till June 18.

The Bank of Ceylon was offering a fixed rate bond with an 11.5 percent coupon and interest paid every six months.