COMBank takes debenture issue public

Tuesday, 13 September 2011 00:38 -     - {{hitsCtrl.values.hits}}

Commercial Bank said yesterday it would raise Rs. 1 billion via a public debenture issue.

The move follows the bank cutting the value of the original debenture issue from Rs. 2 billion to Rs. 1 billion as well as opting to go public as opposed to the previously announced private placement.

The decision to this effect was made by Commercial Bank Board at its meeting recently.

The debenture issue is subject to regulatory approval.