Historic Bank Debenture Oversubscribed
- Eng2Bandara
- November 5, 2026
- Banking and Financial
- Bank of Ceylon
- 0 Comments
Bank of Ceylon (BOC) successfully closed its historic Basel III compliant Tier 2 Debenture Issue. The issue was oversubscribed 3.8 times over its initial allocation on its opening day.
The bank initially sought to raise up to Rs. 10 billion through Listed, Rated, Unsecured, Subordinated, Redeemable Debentures. Due to overwhelming demand, options were exercised to increase the total capital raising.
Total applications received exceeded Rs. 38 billion during the subscription window. This milestone represents the largest-ever listed debenture issue in Sri Lanka’s capital market history.
The massive capital influx follows a recent upgrade to BOC’s National Long-Term Rating to ‘AA+(lka)’ by Fitch. Management noted the funding will deepen capital markets and support national infrastructure development.
