Notes to the Consolidated Financial Statements - Seylan Bank

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328 North Bound > Seylan Bank Annual Report 2011 Notes to the Consolidated Financial Statements 36.1 Movement in Debentures BANK GROUP 2011 2010 2011 2010 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 As at Beginning of the Year 3,996,365 4,230,365 3,996,365 4,230,365 Issues During the Year – 465,000 – 465,000 Redemptions During the Year (1,344,715) (699,000) (1,344,715) (699,000) As at End of the Year 2,651,650 3,996,365 2,651,650 3,996,365 36.2 Debenture Category Fixed Rate Debentures BANK Colombo Stock Interest Allotment Maturity Value as at Value as at Exchange Payable Date/Period Date/Period 31.12.2011 31.12.2010 Listing Frequency Rs. ‘000 Rs. ‘000 2006/2011 - 13.50% p.a. Listed Annually 13.07.2006 12.07.2011 – 462,080 2006/2011 - 13.00% p.a. Listed Monthly 13.07.2006 12.07.2011 – 764,640 2006/2011 - 15.00% p.a. Not listed Annually 24.11.2006 - 29.12.2006 23.11.2011 - 28.12.2011 – 51,900 2006/2011 - 14.00% p.a. Not listed Monthly 27.11.2006 - 29.12.2006 26.11.2011 - 28.12.2011 – 34,500 2006/2012 - 18.50% p.a.* Not listed At Maturity 27.11.2006 - 29.12.2006 26.11.2012 - 28.12.2012 74,850 74,850 2007/2012 - 16.75% p.a. Listed Annually 30.05.2007 29.05.2012 427,545 427,545 2007/2012 - 15.75% p.a. Listed Monthly 30.05.2007 29.05.2012 291,620 291,620 2007/2012 - 18.00% p.a. Listed Annually 10.12.2007 09.12.2012 296,240 296,240 2007/2012 - 17.00% p.a. Listed Monthly 10.12.2007 09.12.2012 208,955 208,955 2007/2012 - 19.50% p.a. Not listed Annually 27.09.2007 26.09.2012 100,000 100,000 2008/2013 - 20.00% p.a. Not listed Annually 12.09.2008 - 31.10.2008 11.09.2013 - 30.10.2013 23,800 23,800 2008/2013 - 18.50% p.a. Not listed Monthly 22.09.2008 - 31.10.2008 21.09.2013 - 30.10.2013 18,800 18,800 2008/2013 - 21.50% p.a. Listed Annually 12.01.2009 11.01.2014 231,610 231,610 2008/2013 - 20.50% p.a. Listed Monthly 12.01.2009 11.01.2014 395,445 395,445 2008/2013 - 22.50% p.a. Not listed At Maturity 01.09.2008 - 31.10.2008 31.08.2013 - 30.10.2013 29,950 29,950 2010/2015 - 11.00% p.a. Not listed Quarterly 07.12.2010 - 29.12.2010 06.12.2015 - 28.12.2015 245,000 245,000 2,343,815 3,656,935 * Zero coupon debenture offered at a discount on par value with the investment doubled at maturity of the debentures which will be six years from the date of allotment (investment is doubled after the exclusion of the withholding tax element of 10%. Therefore the investor receives double the amount invested after payment of withholding tax). Floating Rate Debentures 2006/2011 - Note 01 Listed Annually 13.07.2006 12.07.2011 – 30,595 2006/2011 - Note 02 Not listed Annually 18.12.2006 17.12.2011 – 1,000 2007/2012 - Note 03 Listed Annually 30.05.2007 29.05.2012 30,235 30,235 2007/2012 - Note 04 Listed Annually 10.12.2007 09.12.2012 10,755 10,755 2007/2012 - Note 05 Listed Quarterly 10.12.2007 09.12.2012 43,335 43,335 2008/2013 - Note 06 Listed Annually 12.01.2009 11.01.2014 120 120 2008/2013 - Note 07 Listed Quarterly 12.01.2009 11.01.2014 3,390 3,390 2010/2015 - Note 08 Not listed Quarterly 07.12.2010 - 29.12.2010 06.12.2015 - 28.12.2015 220,000 220,000 307,835 339,430 Total Debentures 2,651,650 3,996,365
North Bound > Seylan Bank Annual Report 2011 329 Note 1. Two percentage points (2%) above the simple average of the one year weighted average Treasury Bill Rate (after tax on interest) at the primary auctions during the month of May each year applicable for the succeeding year until redemption with a floor of 11% p.a. and a cap of 15% p.a. payable annually. 2. Two and half percentage points (2½%) above the one year weighted average Treasury Bill Rate (after tax on interest) as published by Central Bank of Sri Lanka, initially decided during the month of October 2006 and applicable for the ensuing year calculated from the respective dates of allotment and thereafter determined in a similar manner based on the primary auctions during the month of October each year applicable for the succeeding year until redemption with a floor (minimum interest rate) of 11% p.a. and a cap (maximum interest rate) of 17% p.a.: payable annually on par value. Tenor of the debentures – five years. 3. Two percentage points (2%) above the simple average of the one year weighted average Treasury Bill Rate (after tax on interest) at the primary auctions during the month of March each year applicable for the succeeding year until redemption with a floor of 14% p.a. and a cap of 19% p.a. payable annually. 4. One (1) year net Treasury Bill Rate plus 2 ½% payable annually on par value (simple average of the one year weighted average Treasury Bill Rate during the month immediately preceding the commencement of the respective years). 5. 3 months net Treasury Bill Rate plus 2 ½% payable quarterly on par value (simple average of the 3 months weighted average Treasury Bill Rate during the month immediately preceding the commencement of the respective quarters). 6. One (1) year net Treasury Bill Rate plus 2½% payable annually on par value (simple average of the one year weighted average Treasury Bill Rate during the month preceding the commencement of the respective years). 7. 3 months net Treasury Bill Rate plus 2½% payable quarterly on par value (simple average of the 3 months weighted average Treasury Bill Rate during the month preceding the commencement of the respective quarters). 8. AWPLR (Five-year floating rate) - (‘AWPLR’ means the simple average of the Average Weighted Prime Lending Rate published by the Central Bank of Sri Lanka for the 12-week period immediately preceding each Interest Determination Date).
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Notes to the Consolidated Financial Statements - Seylan Bank

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