Sri Lanka HNB debenture oversubscribed; raises Rs.10bn

September, 10, 2019

Sri Lanka’s Hatton National Bank (HNB) said its listed debenture issue was oversubscribed and was closed at 4.30p.m. today (10) as per the Prospectus.

In a stock exchange filling today ( 10) HNB said that "An initial issue of Rs.50 million, Basel III compliant, tier II, listed, rated, unsecured, subordinated, and redeemable debentures at the par value of Rs. 100 each to raise Rs.5 billion with an option to issue up to a further Rs. 20 million debentures (Rs. 2 billion) at the discretion of the bank in the 'event of an oversubscription of the initial issue, and with a further option to issue up to a further 30 million debentures (Rs. 3 billion) in the event the first two tranches are oversubscribed."

“We have received applications for over LKR 10,000,000,000/- (Rupees Ten Billion) for the above Debenture Issue by Hatton National Bank PLC and accordingly the Issue has been oversubscribed,” bank added.