Bank of Ceylon is opening the subscription list of its 8th listed Rupee debenture issue on December 21.
“Bank of Ceylon is the largest issuer of debentures in the Sri Lankan Debt market with over 77 years of trust, stability and leadership in the Sri Lankan banking industry, the Bank has successfully raised over Rs. 44 billion by issuing debentures in the market.
“During all those times the issue has been oversubscribed on the same day which showed the high level of investor confidence enjoyed by the Bank”, BoC International, Treasury and Investments Deputy General Manager S.M.S.C Jayasuriya said.” Bank intends to utilise the proceeds of this issue to expand the loan book. During the first nine months of 2016 the loan book has grown by Rs.74 billion. Even though there are multiple sources of funds, such as different types of deposits and borrowings to fund the bank’s expansion strategy, mobilizing medium term funds through debentures would diversify bank’s funding mix.
The other motive behind this issue is to expand the capital base of the bank to improve CAR and to manage the maturity mismatches in bank’s assets and liability portfolio. Bank of Ceylon invites local and foreign investors to join hands with us by investing in debentures and contributing to the economic and social development of the country.
0 comments: