The Colombo Stock Exchange (CSE) has approved in principle an application for listing the BASEL III compliant debentures of Sampath Bank, the Bank said yesterday in a stock exchange filing.
Accordingly, the bank is to raise Rs. 6 billion by issuing 40,000,000 III compliant, Tier II, rated, unsecured, subordinated, redeemable debentures with a non-viability conversion with an option to issue up to a further 20,000,000 debentures at the discretion of the Bank, in the event of an oversubscription of the initial issue at an issue price of Rs 100.
The allotment and secondary trading of these debentures is limited to qualified investors. The date of opening of the subscription list is December 15.
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