Seylan Bank’s Rs.6bn listed debt issue snapped up on opening day

Seylan Bank’s debenture issue up to Rs.6 billion was oversubscribed on the opening day.

Registrar to the issue S S P Corporate Services (Pvt.) Ltd informed the Colombo Stock Exchange yesterday that the issue had received applications for over Rs.6 billion and the issue was oversubscribed. 

Accordingly, the subscription list of the issue was closed at 4:30 p.m. yesterday.

Seylan Bank issued 50 million Basel II-compliant, Tier 2, listed, rated, unsecured, subordinated, redeemable debentures, with a non-viability conversion at par value of Rs.100, with an option to issue up to further 10 million debentures at the discretion of the bank.