Reply To:
Name - Reply Comment
Last Updated : 2024-03-29 02:27:00
Citizens Development Business Finance PLC (CDB), one of the leading Licensed Finance Companies in Sri Lanka announced its intention to issue Listed Rated Subordinated Guaranteed Redeemable Debentures worth Rs. 1 billion.
The debenture issue has received [SL] ‘A-‘(SO) with Stable Outlook by ICRA Lanka Ltd., and the Rated 5-year debentures are guaranteed by Seylan Bank PLC. The issue opens for subscription on 27th May 2016 and will close in 14 days of its opening date unless oversubscribed before the closing date.
With a 10 million debentures at a face value of Rs. 100 each. The issue will offer two types of 5 year debentures, Type A with a fixed rate of 12.75 percent p.a paid semi-annually and Type B with a floating rate of, the 6 month net Treasury Bill plus 1.5 percent paid semi-annually (the floating rate has a cap of 15 percent and a floor of 10 percent). Further enhancing the investors’ return is the tax concessions applicable to listed debentures.
CDB is a company rated [SL] ‘BBB’ with a stable outlook by ICRA Lanka Limited and is a licensed finance Company registered under the Finance Business Act No. 42 of 2011 and a Company registered under the Finance Leasing Act No. 56 of 2000. Also a Public Limited Company registered under the Companies Act No. 17 of 1982 and re-registered under the Companies Act No. 7 of 2007.
The main objective of the debenture issue is to raise funds for CDB to strengthen its Tier II Capital and grow its lending book.
First Capital Limited and Citizens Development Business Finance PLC will act as joint mangers to the issue and is geared to handle queries regarding the debenture. The Prospectus and Application Form can be downloaded fromwww.cdb.lk | www.firstcapital.lk | www.cse.lk.
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
Though the Government imposed VAT (Value Added Tax) on vegetables and other e
Saving energy has become more of a responsibility than a habit in today’s c
In the coming days, Muslims across the world will welcome the Holy Month of R
As of February 2024, Sri Lanka lost another 38 elephants as a result of the H
28 Mar 2024