Sampath Bank Rs. 6 b debenture issue oversubscribed

Wednesday, 7 April 2021 00:15 - - {{hitsCtrl.values.hits}}

Sampath Bank’s Rs. 6 billion listed debenture issue was closed yesterday following an oversubscription.

The bank offered 50 million BASEL III compliant, Tier 2, listed, rated, unsecured, subordinated, redeemable seven-year debentures with a non-viability conversion of Rs. 100 each and a further 10 million such debentures in the event of an oversubscription of the original amount.

Sampath said it received applications for over Rs. 6 billion and accordingly the issue was closed as per the prospectus.

Fitch Ratings assigned the debentures a National Long-Term Rating of ‘A’.

Sampath Bank plans to use the proceeds from the debentures to strengthen its Tier II capital base and support the expansion of its loan book.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.