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BOC raises Rs. 5bn via BASEL III compliant additional Tier 1 Capital Perpetual Bonds


The Bank of Ceylon (BOC) launched a private placement of Basel III Compliant, Unlisted, Unsecured, Subordinated, Perpetual, Additional Tier I Capital Bond issue with Non-Viability Write Down features. The amount to be raised was Rs. 3 billion with an option to issue up to a further Rs. 2 billion in the event of over subscription of the initial issue. This bond issue is approved by the Securities & Exchange Commission of Sri Lanka and Central Bank of Sri Lanka.

This is a novel debt instrument to the Sri Lankan debt capital market. The Bonds are not listed on the Colombo Stock Exchange and confined to qualified investors. The Bonds are irredeemable and may be callable by the Bank at its discretion at any time after expiry of 5 years from the date of issue subject to approval of the Central Bank of Sri Lanka. The Bonds carry a floating interest rate of 12 month net Treasury bill rate + 1.5% p.a. with a floor rate of 9.5% p.a.


Dividend payments by Listed Companies will now reach shareholders faster

The recently approved amendments to the listing rules of the Colombo Stock Exchange (CSE) by the Securities and Exchange Commission of Sri Lanka (SEC) will enable shareholders to receive dividends declared by Listed companies much faster. These reforms...

MasterCard CEO Ajay Banga new Chair of ICC


Ajay Banga President & CEO of MasterCard , who has served as ICC’s First Vice-Chair since June 2018, was elected as the new chairman of the International Chamber of Commerce, the institutional representative of over 4...

‘oneworld’ launches customer information portal

‘oneworld’® has launched an information portal to provide customers the latest updates on the health and well-being measures they can expect while travelling, further underlining the commitment by the global alliance’s member airl...

Sampath Bank brings another innovation to Sri Lanka digital payments landscape


Sampath Bank PLC recently announced that it has become one of the first bank’s in Sri Lanka to serve as both an issuer and acquirer of Payment Exchange Name (PEN) based payments to its customers, thus facilitating a simpler method of conducting o...

UK-standard training of eldercare services at English Nursing


English Nursing Care Sri Lanka (ENC), a leading elder’s home nursing service, recently conducted a comprehensive training session for their team of nurses with the aim of educating and reinforcing the proper use of Personal Protective Equipment (...

HMD Global founding new Centre of Excellence in Finland for R&D


HMD Global, the home of Nokia phones recently announced it is acquiring assets of Valona Labs and launching a brand-new Centre of Excellence in Tampere, Finland. Combining HMD Global’s commitment to delivering secure, reliable and dependable mobi...

ComBank makes history as only Sri Lankan Bank in Top 1000 World Banks for 10 successive years


The Commercial Bank of Ceylon has brought honour to the country’s banking industry by moving up 51 places on the World’s Top 1000 Banks ranking for 2020, and become the only Sri Lankan bank to be on this prestigious list for 10 years in a r...

Emirates delivers on customer promise, offers travel confidence


In the past two months, Emirates has processed nearly 650,000 refund requests, returning over AED 1.9 billion to its customers and making good on its promise to expedite refunds after the COVID-19 pandemic disrupted travel plans for millions of custome...

Allianz Lanka joins hands with Sri Lanka Olympians


Allianz Insurance Lanka Limited (Allianz Lanka) announced its partnership with Sri Lanka Olympians (SLO) to extend a host of benefits to the nation’s Olympians. The two parties entered into an MoU in this regard at a formal ceremony held under th...

Prime Group launches Waterfall Residencies in Malabe, promoting wellness centric lifestyle


Leading Sri Lankan property developer Prime Group, is adding to its award-winning and extensive portfolio of housing projects with Waterfall Residencies, a tranquil, nature-friendly residential complex located on the prolific, booming neighborhood of C...

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