Sri Lanka’s Commercial Bank listed debenture oversubscribed

Oct 24, 2016 (LBO) – Sri Lanka’s Commercial Bank said a listed debt offer for seven billion rupees had been oversubscribed Monday and is closing on the same day.

The bank offered 50 million debentures at 100 rupees each with an option to issue 20 million further.

Fitch Ratings Lanka assigned the Basel II-compliant subordinated debenture, a final National Long-Term Rating of AA-(lka). The basis of allotment is to be notified later.