Thursday Dec 12, 2024
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Seylan Bank yesterday announced plans to raise a maximum of Rs. 12 billion via multiple debenture issues.
Its Board resolved to issues up to a maximum of 120 million BASEL III compliant, Tier II, Listed, Rated, Unsecured, Subordinated, Redeemable Debentures with a Non-Viability Conversion of Rs. 100 each.
The 120 million debentures will be issued in one or more issuances until 31 December 2023.
The size, tenure/maturity period (minimum five years), coupon rate/s, frequency of coupon/s etc., as determined by the Board will be notified prior to the opening of each issue. The debentures will be offered to ‘Qualified Investors’.
The debenture issues are subject to regulatory approval.