Sampath Bank Rs. 5 b debenture up for grabs from Friday

Thursday, 14 November 2013 00:00 - - {{hitsCtrl.values.hits}}

Sampath Bank Plc’s Rs. 5 billion five year listed debenture issue is up for grabs from Friday. The Colombo Stock Exchange said yesterday it has approved in principle an application for listing of debt securities of Sampath Bank on the main board. Sampath is issuing 25 million rated, unsecured, subordinated, redeemable debentures at Rs. 100 each with an option to issue a further equal amount in the event of the original figure is oversubscribed. Official opening of the subscription list is 26 November but the public can apply from 15 November. Managers to the issue is NDB Investment Bank Ltd and registrars are SSP Corporate Service Ltd. Fitch Ratings Lanka has assigned A+ rating for the proposed debenture. The proposed debentures are rated one notch below SB’s National Long-Term Rating of AA-.

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