BOC Rs. 20 b debenture issue oversubscribed

Tuesday, 23 December 2025 03:48 - - {{hitsCtrl.values.hits}}

Bank of Ceylon (BOC) said its debenture issue to raise Rs. 20 billion was oversubscribed and closed yesterday.

The notes were BASEL III-compliant, Tier 2, unlisted, rated, unsecured, subordinated, redeemable debentures with a non-viability write down feature. The issue opened on 19 December.

The bank offered 200 million debentures at Rs. 100 each, structured in three tranches: Type A with a five-year tenor carrying a fixed interest rate of 29% per annum payable annually; Type B with a five-year tenor offering a floating rate of AWPLR + 2% per annum payable bi-annually; and Type C with an eight-year tenor bearing a floating rate of AWPLR + 2.50% per annum payable bi-annually.