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Sri Lanka's Seylan Bank to sell Rs10bn unsecured bonds

Aug 29, 2017 07:00 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Sri Lanka's Seylan Bank Plc said it planned to sell 6.0 billion rupees of unsecured subordinated with an option to sell a further 4.0 billion if there was demand.

The debentures would have a tenor of 5 to 10 years.

The interest rate would be set before the opening of the issue.

Seylan Bank said it will not go ahead with a plan announced in October 05, 2016 to issue rated senior unsecured debt.

The subordinated debt will company with BASEL III capital requirements. (Colombo/Aug29/2017)


 

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