MCSL Financial Service drops debenture issue

Friday, 25 April 2014 03:13 - - {{hitsCtrl.values.hits}}

The Colombo Stock Exchange (CSE) announced yesterday that the Board of Directors of MCSL Financial Service Ltd. has decided not to proceed with the proposed debenture issue which was to be opened on 24 April. The move is since the Board of Directors of the company are of the view that strengthening the Tier II Capital and complying with the Capital Adequacy to support the expansion of the asset base of the company is no longer a requirement due to the proposed merger of Merchant Bank of Sri Lanka (MBSL), MCSL and MBSL Savings Bank.

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