Sri Lanka’s NTB debentures oversubscribed

Ajith Nivard Cabraal, former governor of the Central Bank of Sri Lanka, in Mumbai, India, on Thursday, Feb. 21, 2013. Photographer: Dhiraj Singh/Bloomberg via Getty Images

Dec 12, 2013 (LBO) – Sri Lanka’s Nations Trust Bank said its 3.0 billion rupee 5-year debenture offer was oversubscribed within hours of opening. The bank is offering 30 million 100 rupee debentures paying 13 percent every six months, giving an annual effective yield of 13.42 percent.

The issue had drawn more than 5.0 billion rupees of subscriptions. The issue is managed and placed by Waldock Mackenzie Limited (WML), the investment banking arm of the group.