Bank of Ceylon seeks to raise 5 billion Sri Lankan rupees through an issuance of 50 million unsecured subordinated redeemable debentures.

The bank has the option to issue an additional 30 million debentures in the event of oversubscription, according to a Dec. 19 release. The issuance will open Dec. 21.

As of Dec. 20, US$1 was equivalent to 149.34 Sri Lankan rupees.