Thu, 09 Dec 2021 Today's Paper

HNB Finance to raise Rs.2bn via listed debt

2 July 2019 12:00 am - 0     - {{hitsCtrl.values.hits}}


Fitch Ratings has assigned HNB Finance Limited’s Rs.2 billion subordinated debentures an expected long-term rating of ‘A-(lka) (EXP)’, one notch below the company’s national long-term rating, to reflect the subordination to the senior unsecured obligations.

The proposed debentures are to mature in five years and carry fixed coupons.  The company plans to use the proceeds to strengthen its Tier II capital base and support its loan book expansion. 

The proposed debentures are to be listed on the Colombo Stock Exchange.

Hatton National Bank PLC owns 51 percent of HNB Finance, although there is limited operational integration between the entities, as microfinance is not a major product for HNB.

  Comments - 0

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

A Sri Lankan giving dignified burials to unclaimed bodies for five decades

After their death, most people are memorialized at a service, surrounded by g

Focus on Laggala Gem mining big shots bigger than the law

The truth is now being uncovered regarding an illegal mining racket in state

How and why the TNA was formed twenty years ago

The Tamil National Alliance (TNA) is now twenty years of age. The premier pol

India lays emphasis on culture diplomacy with Sri Lanka

Indian Prime Minister Narendra Modi wanted to inaugurate the Kushinagar Inter