The board of directors of Sampath Bank has decided to raise Rs.7 billion through a debenture issue.

The banking company informed the Colombo Stock Exchange that it had resolved to issue 50 million debentures with an option to issue up a further 20 million debentures in the event of an oversubscription of the first tranche. The debentures will have a par value of Rs.100. The bank said the debt issue was subject to regulatory approvals.  Sampath hopes to list the said debentures on the Colombo Stock Exchange.