Sri Lanka Sampath Bank to limit 16.5-pct debentures

Oct 15, 2012 (LBO) – Sri Lanka’s Sampath Bank which offered 1.5 billion rupees of debentures in three types coupons has said that applications for 16.5-pct fixed rate securities will only be partially filled. Those who had applied for over 100,000 will get 100,000 debentures and the balance will be prorated.

Samapath offered one point five rupees in 5-year bonds. Investors who applied for fixed rate bonds paying 15 percent a year with monthly payments will be given all they asked for. A third type which pays 2.0 percent above the 6-month Treasury bill yield will also be fully accommodated.

Applications for the 16.5 percent fixed rate bond that pays interest annually will be fully accommodated up to 100,000 debentures, Sampath Bank said in a stock exchange filing.