Sri Lanka’s Commercial Bank to sell 5 to 10-year bonds

ECONOMYNEXT – Sri Lanka’s Commercial Bank of Ceylon will sell up to 7.0 billion rupees of 5 and 10 year subordinated bonds, Fitch Ratings said.

The proposed subordinated bonds have been given an AA-(lka) expected rating.

Commercial Bank’s senior debt has a rating a notch higher at AA (lka).

The bank will use to money to reduce asset and liability mis-matches and boost its Tier II capital based, Fitch said.

Commercial Bank has bought into long term government bonds in recent years. (Colombo/Aug04/2016)

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