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Nations Trust Bank to raise 3.5B rupees via debentures

Sri Lanka-based Nations Trust Bank Plc plans to issue 3.5 billion Sri Lankan rupees worth of five-year debentures, subject to regulatory approval.

The Tier 2 issue will be Basel III-compliant, unsecured, subordinated, redeemable and will carry a nonviability conversion feature, according to a Dec. 22 stock exchange filing.

As of Dec. 25, US$1 was equivalent to 152.95 Sri Lankan rupees.