BOC’s Rs. 15 b debenture issue up for grabs

Thursday, 15 May 2025 01:02 - - {{hitsCtrl.values.hits}}

The Bank of Ceylon’s (BOC) Rs. 15 billion debenture issue is up for grabs now.

The bank is issuing 100 million Basel III compliant Tier 2, Listed, Rated, Unsecured, Subordinated, Redeemable, 5-year debentures with non-viability write down features at an issue price of Rs. 100 each to raise Rs. 10 billion, with an option to issue up to a further 50 million of said debentures to increase the said sum by up to a further Rs. 5 billion at the discretion of the bank in the event of an oversubscription of the initial issue. The debentures are of two types. Type 1 is a 5-year tenor with a fixed coupon rate of 11.25% per annum (AER 11.25%) payable annually and Type B is a 5-year tenor with a floating coupon rate of 12-month Treasury Bill rate + 1% payable annually.

The official opening of the issue is today, whilst it has been up for subscription since 8 May.