Sri Lanka’s Sampath Bank is planning to raise Rs. 5 billion via a debenture issue to raise funds to expand the Bank’s operations.
Accordingly, the Bank will issue up to 50 million debentures of five year tenor at a par value of Rs. 100, each.
“We will use the money for long-term lending and expand our leasing and factoring business”, said, Wijaya Dambawinne, DGM – Treasury of Sampath Bank.
Initially, the Bank will issue 25 million debentures and will go into issue another 25 million in case of an over-subscription of the first 25 million debentures.
The Bank is planning to list these debentures on the first board of the CSE. The issue is subjected to regulatory approval.
Sampath Bank ready to raise Rs. 5 bn via a debt issue
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Oleh
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