People’s Bank launches SL’s largest Rs. 25 b debenture
View(s):People’s Bank has reached a significant milestone with the successful completion of Sri Lanka’s largest debenture issue, mobilising Rs. 25 billion through a Basel III compliant, Tier 2, Unlisted, Rated, Unsecured, Subordinated, Redeemable Debenture.
This issuance represents the highest amount raised through a debenture issue in Sri Lanka, across both senior and subordinated instruments, whether listed or unlisted. The debentures were offered with five-year and eight-year tenors, the bank said in a media release.
The successful completion of this landmark transaction significantly strengthens People’s Bank’s capital base, enhancing the resilience of its balance sheet while supporting sustainable long-term growth. It also reflects the strong confidence placed by investors in People’s Bank as one of Sri Lanka’s most trusted and systemically important financial institutions, particularly at a time when unlisted debt instruments typically face greater market challenges.
People’s Bank has also made history by becoming the first state-owned bank in Sri Lanka to receive a Corporate Finance Advisor Licence from the Securities and Exchange Commission of Sri Lanka.
The debenture issue was structured and executed by the People’s Bank Investment Banking Unit (PBIBU), the bank’s in-house investment banking arm, which provided advisory and execution expertise throughout the transaction.
To date, PBIBU has successfully managed 33 debenture listings and one equity Initial Public Offering (IPO), collectively mobilising over Rs. 225 billion, further strengthening the bank’s presence in Sri Lanka’s capital markets.
The release said PBIBU is currently structuring two additional debt issuances expected to be launched during the first half of 2026, continuing its contribution to the growth and development of the country’s capital market ecosystem.
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