FINANCIAL CHRONICLE – Pan Asia Banking Corporation PLC in Sri Lanka is set to raise as much as 5 billion rupees by issuing a series of listed, rated, senior, unsecured, redeemable debentures.
The initial offering will include up to 20 million debentures, each priced at 100 rupees. Should the initial tranche be oversubscribed, the bank plans to issue an additional 20 million debentures, and if that too sees high demand, a further 10 million debentures will be made available.
This offering presents two distinct options for investors: Type A debentures will have a 3-year term with a fixed interest rate of 12.75 percent per annum, payable annually (Annual Effective Rate of 12.75 percent). In contrast, Type B debentures will feature a 5-year term and a fixed interest rate of 13.50 percent per annum, also payable annually (Annual Effective Rate of 13.50 percent).
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The subscription period for these debentures will commence on October 1, 2026. The Investment Banking Unit of Commercial Bank of Ceylon PLC will oversee the management of the issuance, while SSP Corporate Services (Private) Limited will serve as the registrar.
As of September 25, 2026, shares of Pan Asia Bank were trading at 52 rupees, reflecting a gain of 0.39 percent.
