Commercial Bank of Ceylon to sell listed debt

Commercial Bank of Ceylon is planning to raise at least a billion rupees through sale of listed debt, but may sell more debt if the demand is higher.

The Sri Lankan bank said in a stock exchange filing that wanted to sell at least 500,000 redeemable debentures of 1,000 rupees each, but would offer a further 500,000 bonds if the initial amount was oversubscribed.

The Colombo Stock Exchange had given permission for the bonds to be listed.