Sampath Bank to raise Rs7bn from listed debenture

Oct 05, 2015 (LBO) – Sri Lanka’s commercial bank sector player Sampath Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing.

Sampath Bank has decided to issue 50 million debentures at 100 rupees each with an option, to issue up to a further 20 million debentures in the event of over subscription, subject to the necessary regulatory approvals.
The bank had two debenture issues in the past two years which raised 11.
0 billion rupees.

Last week, a listed debenture offer for island’s state owned Bank of Ceylon was oversubscribed receiving over 8.
0 billion rupees worth applications.