|
|
|
  |
| Sunday, 29 May 2005 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
COMBank to develop Corporate Debt Market Commercial Bank of Ceylon Ltd, selected as the Best Bank in Sri Lanka for seven consecutive years by the prestigious "Global Finance" Magazine has decided to expand the scope of its operations into the corporate debt market. Having structured and invested over Rs. 3.0 billion in the past two years, their latest and largest transaction in this direction is a Rs. 500 million securitisation that they arranged and placed for People's Leasing Company Ltd. Having recognised the importance of a vibrant corporate debt market in facilitating the expansion of the country's economic and in providing investors with adequate returns particularly in times of high inflation, the development of the corporate debt market has been identified as a thrust area by the bank. Commercial Bank also recognised the lack of well capitalised market intermediaries for corporate debt as a key impediment and has decided to fulfil this important market need. Senior deputy general manager (Corporate Banking) of Commercial Bank Harris Premaratne said "Currently most issues are being held to maturity by the original investors and it is felt that the presence of a strong market intermediary with the balance sheet strength to warehouse issues would activate the secondary market and ensure investors are given the opportunity to invest as well as exit from high quality debt instruments." The issue was co-managed by Capital Alliance Holdings Limited, an investment bank specialising in debt securities. Chief Executive Officer of PLC D. P. Kumarage said "Commercial bank has selected People's Leasing for its largest venture into the corporate debt arena due to its recognition of the inherent balance sheet strength and the wide market acceptance of the people's leasing name". |
|
|||||||||
| News | Business | Features
| Editorial | Security
| Produced by Lake House |
