Sampath Bank Rs.7bn debenture issue an overwhelming success
17 Nov 2015 - {{hitsCtrl.values.hits}}
Sampath Bank’s unsecured subordinated redeemable debenture issue was successfully oversubscribed over its initial issue and thus closed on the opening day itself in a strong expression of investor confidence.
The issue received applications over the value of Rs.7 billion. As this exceeded the initial 50 million debentures for over Rs.5 billion, the bank decided to exercise the option to accept a further 20 million debentures issuing a total of 70 million debentures. The issue closed at 4:30 p.m. on the opening date (November 12, 2015).
A Sampath Bank spokesman, commenting on the success of the issue, said, “We are pleased with the overwhelming response for this offering as it highlights positive investor confidence in our bank.
Investors for the issue comprised of individuals, corporates, trust funds, insurance funds and financial institutions.
Funds raised via this debenture will be utilized to strengthen the bank’s Tier II capital and finance the asset growth of the bank.
Sampath Bank the nation’s premier bank, pioneers in providing innovative banking solutions to customers. The bank has played a prominent role in developing Sri Lanka’s retail banking offering unique technology-oriented products and services such as Internet banking, mobile banking and foreign currency ATMs. Sampath Bank’s 224 branches countrywide cover all vital business areas in the country and its well-trained staff provide best-in-class service to its customers.
The bank’s achievements have been honoured locally and internationally and recognized amongst industry giants.
