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Bank of Ceylon to privately place Rs12bn in bail-in bonds

ECONOMYNEXT – State-run Bank of Ceylon is planning to privately place 12 billion rupees of unlisted bonds, which can be used to bail out depositors under Basle III rules.

The Board of Directors had approved the sale of 120 million 5 and 8 year bonds at 100 rupees each, at a meeting on May 22, the bank said in a stock exchange filing.

The coupons were not announced.

Bank of Ceylon bond are listed in the Colombo Stock Exchange. (Colombo/July15/2019)
 

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