COMBank goes for Rs. 10 b Basel III compliant debentures

Commercial Bank Plc has decided to raise Rs. 10 billion via Basel III compliant Tier 2 listed rated unsecured subordinated redeemable debentures. 

It will offer 50 million debentures of Rs. 100 each and in the event of oversubscription issue a further 50 million debentures. The allotment and secondary market trading of these debt securities is limited to qualified investors. 

The issue will officially open for subscription on 16 July.

Managers to the issue is Commercial Bank’s Investment Banking Unit and the Registrars are S.S.P Corporate Services Ltd.