Merchant Bank of Sri Lanka wraps up debenture

Mar 21, 2013 (LBO) – Merchant Bank of Sri Lanka, a unit state-run Bank of Ceylon said it had raised 2.0 billion rupees from listed debenture which was oversubscribed on the opening day. “The money raised from the issue will be utilized to increase the lending portfolio and for the settlement of short term borrowings of the Company,” MSBS said in a statement.

The lender, which is registered as a leasing company offered one billion rupees worth 100 rupee debentures, and another billion rupees if the first tranche was fully subscribed.

Investment banking division of Merchant Bank of Sri Lanka was the registrar and the managers to the issue.