MBSL to raise Rs 1 bn via debenture issue | Daily News

MBSL to raise Rs 1 bn via debenture issue

Merchant Bank of Sri Lanka and Finance PLC in stock exchange disclosure announced an initial issue of 5 million debentures at Rs. 100 each with an option to issue up to a further 5 million debentures amounting to a maximum sum of Rs. 1 billion. Accordingly, Type A debentures would be at a fixed coupon rate of 24 % p.a. payable annually, Type B debentures at a fixed coupon rate of 23.50% p.a. payable bi-annually (AER of 24.88%) and Type C debentures at a Floating Rate of 364 days weighted average treasury bill rate plus 300 basis points subject to a cap of 29.50% per annum, payable quarterly.

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