Rs. 10 b Sampath Bank debenture issue oversubscribed

Wednesday, 21 October 2026 00:02 - - {{hitsCtrl.values.hits}}

Sampath Bank PLC’s Debenture issue was oversubscribed yesterday, drawing applications of over Rs. 10 billion, and closed at 4.30 p.m., the bank said.

The bank offered up to 70 million Debentures at Rs. 100 each to raise up to Rs. 7 billion, with an option to issue up to a further 30 million Debentures, at its discretion in the event of an oversubscription, to raise up to a further Rs. 3 billion. This would take the issue to a maximum of Rs. 10 billion.

The listed, rated, unsecured, subordinated, redeemable Debentures carry five-year (2026/2031) and seven-year (2026/2033) tenors. They are Basel III compliant Tier 2 instruments, counting towards the bank’s supplementary regulatory capital. They also carry a non-viability conversion feature, which allows them to be converted into ordinary shares if the bank is deemed non-viable by the regulator.

The basis of allotment will be notified to the Colombo Stock Exchange (CSE) in due course, the bank said.