Sri Lanka, March 3 -- Union Bank of Colombo PLC announced its proposed debenture issue 2026, a strategic move aimed at raising up to Rs.3 billion.
This issue is designed to bolster the bank's Tier II capital base and provide a robust financial foundation for its upcoming growth initiatives.
The offering consists of Basel III-compliant, listed, rated, unsecured, subordinated, redeemable high-yield debentures, with a non-viability conversion. The instrument has been assigned a rating of BB (lka) by Fitch Ratings (Lanka) Ltd, reflecting the bank's creditworthiness and the structured nature of the subordinated debt.
The investors can choose from three distinct interest structures, starting from a high-yield 13 percent fixed rate per annum ...