Sri Lanka’s NDB debenture oversubscribed

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June 17,2015 (LBO) – Sri Lanka’s National Development Bank’s debt issue was oversubscribed reciving 10 billion rupees during the early hours of the opening day as per the disclosures made to the CSE by the Registrars to the Debenture Issue, a statement said.

The company issued 75,000,000 rated unsecured subordinate redeemable debentures with a par value of 100 rupees each.

The debenture issue of National Development Bank PLC was for 7.5 billion rupee with a green-shoe option to go up to 10.0 billion rupees and was rated A+ (lka) by Fitch Ratings Lanka Limited.

The company said the issue would be closed at 4.30 p.m today as per the prospectus and the basis of allotments will be notified to the CSE in due course.

NDB Investment Bank acted as the Financial Advisors and Managers to the Debenture Issue.