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Bank of Ceylon raises 8B rupees in debenture offering

Bank of Ceylon has raised 8 billion Sri Lankan rupees through an issuance of unsecured subordinated debentures.

The bank initially intended to raise 5 billion rupees, with an option to increase the amount to 8 billion rupees in the event of oversubscription.

The offer closed Dec. 21.

As of Dec. 22, US$1 was equivalent to 149.62 Sri Lankan rupees.