Singer Finance to raise up to Rs.2bn via listed debt

Singer Finance (Lanka) PLC last Friday disclosed its plans to raise up to Rs.2 billion via a listed debenture issue.
Accordingly, the finance company plans to issue up to 20 million listed, rated, unsecured, subordinated, redeemable debentures amounting to Rs.2 billion.

“We confirm that the aforesaid issue will be subject to necessary regulatory approvals and the company proposes to have these debentures listed on the Colombo Stock Exchange,” a stock market filing by Singer Finance said.

With an asset base of Rs.24.5 billion, Singer Finance is a subsidiary of Singer Sri Lanka, whose ultimate parent is Hayleys Group.