HNB raises Rs.10bn via listed debentures

Sri Lanka’s second largest private bank by assets, Hatton National Bank PLC (HNB) said it successfully raised Rs.10 billion via a listed debenture issue. 

HNB in September last year, announced plans to issue 50 million BASEL III-compliant, Tier II debentures at Rs.100 a share, with an option to issue further 20 million debentures.
The bank in January this year said it would further issue 30 million of the same debentures, increasing the total amount to be raised up to Rs.10 billion. 

The rated, unsecured, subordinated, redeemable debentures have five and seven-year tenures.

The issue which opened yesterday closed at 4.30 p.m. following oversubscription.