Sampath Bank Rs.6bn debenture issue snapped up

Sampath Bank PLC said its Rs.6 billion debenture issue, which opened yesterday, was oversubscribed. “Therefore, the issue would be closed at 4:30 p.m. today (June 6) as per the prospectus,” the bank said. The bank issued 60 million subordinated debentures in two tranches, priced Rs.100 each. The debentures, which will be listed on the Colombo bourse, will mature in five years and carry fixed and floating coupon. Fitch Ratings had assigned A+(lka/Stable), one notch below Sampath’s national rating, to the issue