The bond will be rated and is to to take place during the next three to four months, says Chairman Gamini Wickramasinghe.
Bank of Ceylon is rated AA+(lka) by Fitch. It had gross assets of 779.1 billion rupees (6.8 billion US dollars) by end September 2011 and net assets of 31.45 billion rupees (276 million US dollars). In the nine months to September it earned profits of 6.78 billion rupees (59 million US dollars).
Last month the bank also raised 140 million dollars from UAE based Mashreq Bank.http://www.lbt.lk/news/business/962-500mn-bond