ISSN: 1391 - 0531
Sunday, December 03, 2006
Vol. 41 - No 27
Financial Times  

SMB debenture issue fully subscribed

Strong investor interest in Sri Lanka's maiden long-term debenture issue by Seylan Merchant Bank (SMB) has seen the Rs 95 million issue being fully subscribed, the company said.

This is the first 10-year listed debenture issue in the local market and was floated with the intention of raising long-term funds to match SMB's long-term lending portfolio.

"Despite the current period of economic uncertainty in the country, investors have chosen to invest in this long-term debt instrument as against choosing a short-term investment which would earn a higher yield," a spokesman for the Bank said in a media statement.

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Copyright 2006 Wijeya Newspapers Ltd.Colombo. Sri Lanka.