Bank of Ceylon has decided to raise Rs. 12 billion via a private placement of debentures.
It plans to issue 120 million BASEL III compliant, Tier 2, unlisted, unsecured, subordinated, redeemable debentures with Non-viability write-down features by way of private placements as a series of issues with tenors of five and eight years at Rs. 100 each. The Central Bank and the Securities and Exchange Commission have approved the proposed debenture issue.