Hatton National Bank PLC (HNB) has announced the successful oversubscription of its debenture issue aimed at raising Rs. 12 billion. The bank offered Basel III compliant, Tier 2, listed, rated, unsecured, subordinated, redeemable debentures with a non-viability conversion feature, priced at Rs. 100 each.
The issue included 120 million debentures with 5-year (2024/2029), 7-year (2024/2031), and 10-year (2024/2034) maturities, which were issued on Friday, August 16, 2024. The bank confirmed that applications received exceeded the Rs. 12 billion target, leading to the oversubscription.
HNB will announce the basis of allotment to the Colombo Stock Exchange (CSE) in due course.
(Colombo/Aug 20, 2024)