Pan Asia Banking Corporation PLC has recorded strong investor demand for its Senior Listed Rated Unsecured Redeemable Debenture issue of up to Rs. 5 billion, with the offering becoming oversubscribed following its opening.
The debentures, each carrying a par value of Rs. 100, will be listed on the Colombo Stock Exchange (CSE). The three-year debentures carry an annual interest rate of 12.75 percent, while the five-year debentures offer an annual interest rate of 13.50 percent.
Lanka Rating Agency has assigned the debenture issue a BBB+ rating with a Stable outlook.
The issue was managed by the Investment Banking Unit of Commercial Bank of Ceylon PLC, while SSP Corporate Services (Private) Limited was appointed as the Registrar to the Issue.
According to Pan Asia Bank, the strong subscription reflects continued investor confidence in the bank and its focus on generating sustainable, long-term value for its stakeholders.
Positioned as ‘The Truly Sri Lankan Bank’, Pan Asia Bank continues to support the financial needs of individuals and businesses while contributing to wider economic development across Sri Lanka.
Image Disclaimer: Pictures belong to their rightful owners.
