Sampath Bank to issue Rs 7 b debenture
Sampath Bank will issue 70,000,000 rated unsecured redeemable
subordinated debenture, according to a Stock Exchange media release.
The bank which will issue 70,000,000 debenture at a rate of Rs. 100
per share has been approved by the regulator. The subscription will open
on Friday. Fitch Ratings has assigned this subordinated debentures a
final National Long-Term Rating of ‘A+(lka)'.
The debentures, which will have a tenor of five years and carry a
fixed coupon, will be listed on the Colombo Stock Exchange. The Bank
will use the proceeds to strengthen its Tier 2 capital base and reduce
asset and liability maturity mismatches. |