CSE green lights Rs. 5 b Pan Asia Bank debentures

Friday, 25 September 2026 00:02 - - {{hitsCtrl.values.hits}}

The Colombo Stock Exchange (CSE) yesterday said it has approved in principle the Rs. 5 billion debenture issue of Pan Asia Banking Corporation PLC.

Subscriptions for the listed, rated, senior, unsecured, redeemable debentures will open on 1 October, 2026.

The bank will initially issue up to 20 million debentures at a par value of Rs. 100 each, raising Rs. 2 billion. If the issue is oversubscribed, it has the option to issue a further 20 million debentures, raising a further Rs. 2 billion. If that tranche is also oversubscribed, it may issue a further 10 million, raising another Rs. 1 billion.

Investors can choose between two fixed-rate options: a three-year debenture paying 12.75% a year and a five-year debenture paying 13.50% a year, both with interest paid annually. The debentures are senior and unsecured, meaning they rank ahead of subordinated debt in repayment but are not backed by specific assets.

Commercial Bank of Ceylon PLC’s Investment Banking Unit is the manager to the issue, and SSP Corporate Services Ltd., is the registrar.