MBSL’s Rs. 2 b debenture issue up for grabs next week

Friday, 24 October 2014 00:01 - - {{hitsCtrl.values.hits}}

The Merchant Bank of Sri Lanka’s (MBSL) first debenture issue of Rs. 2 billion for the year will be up for grabs from 27 October. The issue will officially open on 5 November and the bank will offer 20 million unsecured redeemable debentures at an issue price of Rs. 100 each. The Colombo Stock Exchange (CSE) has approved in principle an application for the listing debt securities of the bank. The managers and registrars of the issue will be MBSL PLC Corporate Advisory and Capital Markets Division. MBSL’s last debenture issue took place on December 2013 where its Rs. 1 billion issue was oversubscribed and closed on the official opening day. The issue, the second for the year, was for five million unsecured redeemable debentures of Rs. 100 each with an option to offer an equal amount in the event of an oversubscription. Prior to that in the same year MBSL successfully raised Rs. 2 billion.

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