04 Sep 2023 - {{hitsCtrl.values.hits}}
Sri Lanka’s second largest private lender by assets, Hatton National Bank PLC (HNB) is gearing to raise up to Rs.12 billion through a Basel III-compliant listed debenture issue.
A resolution in this regard was passed by HNB’s board of directors on August 31, 2023.
Accordingly, the bank plans to issue 80 million Basel III-compliant, Tier II, listed, rated unsecured, subordinated, redeemable debentures for tenors of 5 years, 7 years and 10 years with a non-viability conversion feature amounting to Rs.8 billion at an issue price of Rs.100 per debenture.
It plans to issue further 4 million debentures amounting to Rs.4 billion in the event of an oversubscription of the initial tranche, subject to market conditions and obtaining all necessary regulatory and shareholder approvals.
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