BOC Basel III Debenture Issue Snapped Up on the Opening Day 

Sri Lanka’s banking giant, the Bank of Ceylon closed its Debenture Issue 2025 in a few hours of opening on 15th May 2025 due to oversubscription, after receiving applications in excess of Rs 15 billion. This demonstrated the overwhelming investor confidence in the Bank.

The Bank offered an initial issue up to 100 million Basel III Compliant Tier 2 Listed Rated Unsecured Subordinated Redeemable 5 Year Debentures with a Non-Viability Write Down feature, at an issue price of Rs 100/- each, to raise a sum of up to Rupees 10 billion, with an option to issue up to a further 50 million Debentures, at the discretion of the Bank in the event of an oversubscription of the initial issue.

Deputy General Manager (International, Treasury & Investment) Mr. G. A. Jayashantha said: “Being a state owned bank, BOC is one of the major contributors to the country’s economic development. Funds raised through this debenture will be utilized to further strengthen the Tier 2 capital base and to enhance the loan portfolio of the Bank. The enthusiastic participation reflects market trust in our financial strength. We are deeply grateful for the support from the investor community”

During the past year BOC achieved significant achievements in improving its balance sheet and overall performance. The Bank concluded 2024 with a remarkable profit of Rs. 106.9 billion (PBT).

In the forefront of the Sri Lankan Banking industry and with over 85 years of experience, Bank of Ceylon has become the most stable and trusted bank in the country and serves Sri Lankans from all walks of life, helping them to build their lives and make themselves financially stable whilst uplifting the country’s economy.

In 2024, BOC was awarded the prestigious title of ‘ Bank of the Year Sri Lanka 2024’ by ‘The Banker magazine’, a renowned publication of Financial Times Group, UK. The Bank also achieved the remarkable distinction of being the only Sri Lankan bank listed in Top 1000 World Banks 2024 as per the ‘Banker’. Fitch Ratings recently upgraded the Bank’s National Long-Term Rating to ‘AA-(lka)’.

This Debenture issue was solely managed by the Investment Banking Division of Bank of Ceylon who also acted as the Registrars to the issue. The Investment Banking Division also hopes to introduce new products to its valued customers in the coming months.