The Bank says, it has decided to close the debt issue at Rs. 1.5 billion without exercising the option to raise a further Rs. 1 billion.
Sampath Bank is issuing 1.5 million Unsecured Subordinated Redeemable Debentures.
In a report released by a rating agency in an earlier occasion, said that the Bank’s debenture issue is aimed at strengthening its Tier 2 capital base and improving maturity mismatches.
Established in 1986, Sampath Bank is Sri Lanka’s fifth-largest licensed commercial bank, accounting for 6% of sector assets as at end-2011.
http://www.news360.lk/business-finance/news-debt-rating-sampath-bank%E2%80%99s-05-10-2012-rs-1-5-bln-debenture-issue-oversubscribed-45673