Sri Lanka, June 17 -- Nations Trust Bank PLC said it will raise up to Rs.15 billion through a listed Basel III-compliant Tier 2 debenture issue.
The Colombo Stock Exchange (CSE) has granted in-principle approval for the listing of the issue, which comprises unsecured, subordinated, redeemable debentures carrying a non-viability conversion feature, according to a market filing.
The bank will initially offer up to 100 million debentures at a par value of Rs.100 each, raising up to Rs.10 billion. It has the option to issue a further 50 million debentures if the initial tranche is oversubscribed, taking the total issue size to Rs.15 billion.The subscription list will open on 19 June.
The issue offers three fixed-rate options. A five-year deb...