ComBank’s Rs.15bn sub debt rated one notch below

3 April 2019 12:01 am - 0     - {{hitsCtrl.values.hits}}

A A A

The proposed issue of Basel III-compliant subordinate unsecured debentures totaling up to Rs.15 billion by Commercial Bank of Ceylon PLC has been rated ‘AA-(lka) (EXP)’ by Fitch Ratings.


The rating is one notch below the bank’s ‘AA(lka)’/Stable)’ rating.


The debentures with maturities of 5 and 10 years will carry fixed coupons.


The debentures will qualify as Basel III-compliant regulatory Tier 2 capital for the bank and include a non-viability clause, under which they would convert to ordinary shares if determined by the Monetary Board of Sri Lanka.

The debentures will be listed on the Colombo Stock Exchange.


The bank plans to use the proceeds to support its loan book expansion, strengthen its Tier 2 capital base and reduce maturity gaps.


The bank raised Rs.10 billion July last year through another Basel III-compliant debenture issue.

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




“Workers who fainted had water sprinkled on their faces and had to work again”

Health authorities believe the first reported Covid-19 infected worker from t

“Social media ruined us” - husband of Minuwangoda Brandix factory worker

The Minuwangoda Brandix factory worker who first tested positive for Covid-19

Last rites far from home

The body of the Sri Lankan migrant worker Bandu who died of coronavirus in Du

Doctors blame newborn for gash on her face

A baby born on September 21 at the Wathupitiwala Base Hospital in Gampaha has

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.