Siyapatha Finance gets CSE nod to list Rs.1bn debentures

5 December 2014 04:03 am - 0     - {{hitsCtrl.values.hits}}

A A A

The Colombo Stock Exchange (CSE) has approved in principle an application by Siyapatha Finance, a 100 percent subsidiary of Sampath Bank PLC, to list its debt securities.The company will be issuing 5 million subordinated debentures with an option to issue up to a further 5 million debentures at an issue price of Rs.100 per share.The subscription list of the issue will open on December 18, 2014.

 


The managers to the issue is NDB Investment Bank Limited while S.S.P.Corporate Services (Pvt) Ltd functions as registrars.Fitch Ratings Lanka has assigned the issue a final rating of ‘A-(lka), one notch below the finance company’s national long term rating to reflect its subordination to senior unsecured creditors.The proposed debentures will have a five-year tenor with bullet principal repayment at maturity. Coupon payments will be made annually at 8.90 percent.The company expects to use the proceeds to strengthen its regulatory Tier 2 capital and to reduce maturity mismatches between assets and liabilities.

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

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




Credentials of official raise controversy

Amila Ishan Kankanamge, the Government appointed non-Executive Director to Mo

How the SLAF killed the LTTE’s “Smiling Cobra” in an air strike

More than eleven years have passed since the war between the Sri Lankan Armed

Sri Lanka in CT Level 3, health experts

As Sri Lanka witnessed the highest number of deaths in a single day and with

How Covid-19 is further marginalising the vulnerable

Although the COVID-19 pandemic was initially described by many as a “great

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.