Commercial Bank Rs. 20 b debenture issue oversubscribed on opening day

Friday, 17 July 2026 00:20 - - {{hitsCtrl.values.hits}}

Commercial Bank of Ceylon PLC’s Rs. 20 billion Basel III-compliant Tier 2 debenture issue was oversubscribed on its opening day yesterday, prompting the bank to close the offer at 4:30 p.m. in line with the prospectus.

The bank said it had received applications for more than 200 million debentures, equivalent to over Rs. 20 billion, exceeding the size of the initial issue. The offer comprised an initial 100 million listed, rated, unsecured, subordinated, redeemable debentures at a par value of Rs. 100 each, with options to issue up to a further 100 million debentures in two additional tranches in the event of oversubscription.

Commercial Bank said the basis of allotment would be notified to the Colombo Stock Exchange in due course.

It also noted that the inclusion of the debentures as Tier 2 capital remains subject to approval by the Central Bank of Sri Lanka, with the bank awaiting regulatory clearance following the submission of its formal request.