Sri Lanka’s Commercial Bank to raise Rs7bn from listed debenture

Aug 02, 2016 (LBO) – Sri Lanka’s Commercial Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing.

The bank has decided to issue listed unsecured rated redeemable subordinated debentures worth 5 billion rupees with an option to go up to 7 billion rupees.

The proposed issue will be carried out after obtaining necessary regulatory approvals, following a resolution adopted yesterday, the board of directors of the bank said.