would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc.. 
Home
BOC to raise Rs. 5 bn via a debenture issue to help expand[b]
Sri Lanka’s state banking giant BOC is planning to raise Rs. 5 billion or a figure closer to that via a subordinated debenture issue to finance its future growth plans.
A senior official of the Bank said, the issue will take place either in end October or early November.
Another source closely working on the matter revealed that the proposed debenture which will be listed on the Colombo Stock Exchange will have a 5 year tenor.
There will be three debenture types issued such as A, B and C.
“Type A” is likely to pay a 11% fixed interest rate per annum on the principal sum payable annually at the expiry of every one year from the date of allotment of the Debentures.
“Type B” is likely to pay a floating rate of interest of 0.75% above the weighted average six months Treasury bill interest rate at the primary auction and paid bi-annually.
“Type C” will target foreign investors and is expected to have an interest rate of 2% above Sri Lankan five Treasury bond rate.
By: Prasanna C. Rodrigo(Pic:dailynews.lk)
Sri Lanka’s state banking giant BOC is planning to raise Rs. 5 billion or a figure closer to that via a subordinated debenture issue to finance its future growth plans.
A senior official of the Bank said, the issue will take place either in end October or early November.
Another source closely working on the matter revealed that the proposed debenture which will be listed on the Colombo Stock Exchange will have a 5 year tenor.
There will be three debenture types issued such as A, B and C.
“Type A” is likely to pay a 11% fixed interest rate per annum on the principal sum payable annually at the expiry of every one year from the date of allotment of the Debentures.
“Type B” is likely to pay a floating rate of interest of 0.75% above the weighted average six months Treasury bill interest rate at the primary auction and paid bi-annually.
“Type C” will target foreign investors and is expected to have an interest rate of 2% above Sri Lankan five Treasury bond rate.
By: Prasanna C. Rodrigo(Pic:dailynews.lk)
