Bank of Ceylon, the issuer to the debenture said the money came through the local branch of the CITI Bank, which in US$ terms runs up to roughly US$ 27 million.

The Ports Authority, Bank of Ceylon, Sri Lanka Insurance Corporation, the National Insurance Trust Fund, Seylan Bank, Commercial Bank and Sampath Bank are the local parties who invested on this UDA debenture.

UDA raised Rs. 10 billion via this issue and have already announced the basis of allotment of debentures.

Accordingly, The Ports Authority will receive Rs. 1.7 billion worth of debentures; The National Insurance Trust Fund a sum of Rs. 1.045 billion, Bank of Ceylon and the Sri Lanka Insurance each will get Rs. 871 million.

Meanwhile, the 3 other Banks, Seylan, Sampath and the Commercial Bank, will each receive Rs. 435 million worth of debentures.

The UDA debenture will be listed on the main board of the CSE within a period of 2 weeks.

The debenture offered 3 types of investment packages.

An 11% rate will be given to annual payment of interest, a 10% rate will be given to monthly payment of interest and the bi-annual rate will be decided based on the Treasury bill rate + 0.75%.

The salient feature of this debenture is that it is given a Sri Lankan Government’s treasury guarantee.