The Board of Directors of Seylan Bank PLC (the Bank) at its Meeting held on November 29, approved that the Bank proceed with a public issue of 50 million Rated Unsecured Subordinated Redeemable BASEL III compliant Debentures of Rs 100 each amounting to Rs 5 billion. This is subject to the debentures being listed on the Colombo Stock Exchange.
It has been proposed that the tenure of the Debentures would be five years from the date of allotment whilst the Interest rate option/coupon will be decided by the Board later.
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