Tue, 27 Jul 2021 Today's Paper

ComBank announces of Rs 5 bn debenture issue

19 February 2016 11:49 am - 0     - {{hitsCtrl.values.hits}}

A A A

The Commercial Bank of Ceylon PLC, Sri Lanka’s largest private bank by assets, market capitalisation and profit after tax, has announced plans to raise Rs 5 billion via a debenture issue with an option to increase it by a further Rs2 billion, for the growth of the Bank’s lending portfolio and t

The listed, rated, unsecured, subordinated, redeemable debenture issue opens on 29th February, but applications are now being accepted, the Bank said. More details can be obtained from the prospectus available in the website www. combank.lk and at all stockbrokers. The Bank will offer two types of debentures,

Type A with a five year tenure and Type B with a 10 year tenure. The five-year debentures will carry a fixed interest rate of 10.75 percent p.a. (AER 11.04 percent) payable semiannually, while the ten-year debenture will offer a fixed interest rate of 11.25 percent p.a. (AER 11.57 percent), also payable semi-annually.

The investors’ return is further enhanced by the tax concessions applicable to listed debentures. The debentures are rated AA- (lka) by Fitch Ratings Lanka Limited (FRL). Commercial Bank’s National Long-Term Rating has been affirmed at ‘AA(lka); Stable Outlook’ by Fitch. The Investment Banking Division of Commercial Bank of Ceylon PLC is the Manager to the Issue. The debenture issue will close in 14 days of its opening date unless oversubscribed before the closing date.

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


Site survey near Akasa Chaitya: Is it the end of Yala?

The Yala National Park has been at the receiving end of human disturbances fr

Basil Rajapaksa’s catch 22 situation

Sri Lankan politics has been a good deal of family business. It was not even

“This govt. printed Rs. 880 billions”

This is the roadmap of Zimbabwe

“We are on the cusp of a mothers-led movement for better birth rights in Sri Lanka” – Kanya D’Almeida

Writer Kanya D’Almeida became the first Sri Lankan to win the ‘Commonweal



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.