FINANCIAL CHRONICLE – Nations Trust Bank (NTB) of Sri Lanka has announced plans to issue debentures totaling 15 billion rupees with interest rates of 13.75%, 13.85%, and 13.95%, according to a recent filing with the stock exchange.
The bank aims to secure this funding via Basel III-compliant, tier 2, listed, rated, unsecured, subordinated, and redeemable debentures, which will include a non-viability conversion feature. The Colombo Stock Exchange has granted preliminary approval for the listing of these debentures.
The initial offering will consist of 100 million debentures priced at 100 rupees each, with an additional 50 million debentures available if there is oversubscription for the first tranche. These debentures come with a non-viability clause that allows for conversion into ordinary voting shares if certain trigger events occur.
Fitch Ratings has assigned a final National Long-Term Rating of ‘BBB+(lka)’ to this issuance. The subscription period for the debentures is set to commence on June 19. (Colombo/Jun16/2026)
