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.
HNB announced that it has decided to increase the number of debentures to be issued to 50 million, Basel III compliant, tier II, listed, rated, unsecured, subordinated, and redeemable debentures with a non-viability conversion feature, amounting to Rs. 5 billion, with the option issue a further 20 million debentures (Rs. 2 billion) in the event of an oversubscription in the first tranche, and with a further option to issue 30 million debentures (Rs. 3 billion) at an issue price of Rs.100 per debenture.
However, in a stock exchange filling today (10) the bank noted that 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.