Sri Lanka’s HNB to raise Rs7bn in listed debt


Mar 09, 2016 (LBO) – Sri Lanka’s HNB said it is planning to raise as much as 7 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange.

The bank said in a stock exchange filing that it wanted to sell 40 million debentures of 100 rupees each with an option to issue further 20 million debentures if the initial offer got oversubscribed.

It would offer an additional 10 million debentures at the discretion of the bank if the second offer was oversubscribed.

NDB Investment Bank and Acuity Partners are managing the issue and the subscription list will be open on 16 March 2016.