Sampath Bank aims to raise Rs. 5 b via listed debentures

Thursday, 17 October 2013 00:00 -     - {{hitsCtrl.values.hits}}

Sampath Bank Plc has decided to raise Rs. 5 billion via a listed debenture issue. The bank said it will be issue 25 million debentures at Rs. 100 each with an option to issue a further equal amount at the same price in the event of an oversubscription of the original amount. Sampath is the latest banking institution to tap the listed debt market to raise funds. Bank of Ceylon has announced a Rs. 8 billion debenture issue opening on 21 October whilst recently HNB raised Rs. 6 billion, and Seylan Bank and Merchant Bank Rs. 2 billion each.