The Bank of Ceylon debenture issue was oversubscribed by Rs 08 billion and was closed last evening (16 September) at 4.30, says the bank.

The BoC debenture issues was initially to raise Rs 04 billion in the first phase and to proceed on the next phase and raise an additional Rs. 04 billion in the event it is oversubscribed.

The Colombo Stock Exchange granted approval to this debenture issue. The BoC said the initial phase would issue 40 million debentures at Rs. 100 each and if oversubscribed another 40 million would be issued at Rs. 100 each as the second phase.