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Sri Lanka’s BOC debenture issue oversubscribed within hours Vote_lcap68%Sri Lanka’s BOC debenture issue oversubscribed within hours Vote_rcap 68% [ 178 ]
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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka’s BOC debenture issue oversubscribed within hours

Sri Lanka’s BOC debenture issue oversubscribed within hours

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

BOC debenture oversubscribed in quick time
Sri Lanka’s Bank of Ceylon’s latest debenture issue of Rs. 3 billion has been oversubscribed within a few hours of opening, a top official told News360.lk.

P.A. Lional, DGM of Treasury and Investment of the Bank of Ceylon, said they have already received subscriptions running over Rs. 3 billion.
“We will go up to Rs. 6 billion”, added Lional of the state run Bank.

BOC’s latest unsecured, subordinated and redeemable debentures carries a maturity period of five years and offers customers three interest payment options.

According to the Bank, the money once raised will enable it to increase its tier II capital in terms of base-II and strengthen the capital base, enhance the single borrower limit, minimize the interest rate risk and gap exposures in the bank’s assets/liability portfolio.

The funds are also expected to help the Bank to reduce the dependency on volatile short term borrowings etc.
http://www.news360.lk/business-finance/news-debt-sri-lanka%E2%80%99s-15-11-2012-boc-debenture-issue-oversubscribed-within-hours-6688997

sureshot

sureshot
Vice President - Equity Analytics
Vice President - Equity Analytics

any effect on PDL share ?
Very Happy

econ

econ
Global Moderator

people seem to be risk averse now.

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