Sri Lanka’s Sanasa Development Bank debenture issue oversubscribed

Dec 30, 2015 (LBO) – Sri Lanka’s Sanasa Development Bank said that its listed debenture issue has drawn subscriptions worth over 4 billion rupees and successfully completing both tranches.

“We have received applications for over 4 billion rupees and accordingly the total issue has been oversubscribed,”
the Bank said in a stock exchange filling.

“The issue was closed yesterday as per prospectus and applications received until 4.30 p.m. Tuesday.”

The bank offered 20 million rated, guaranteed, redeemable debentures at 100 rupees each with an option to issue up to a further 20 million debentures in the event of an over subscription of the original amount.