Siyapatha Finance PLC, the finance company arm of Sampath Bank PLC, will go for a listed debt issue to raise Rs.1 billion.
The company’s board of directors, following a board meeting this Tuesday, has decided to issue debentures by way of a public offer, subjected to the approval of the Central Bank.
Accordingly, Siyapatha Finance plans to issue 10 million listed, rated, unsecured, subordinated, redeemable debentures of the par value of Rs.100 each.
The company also raised Rs.2.5 billion in September last year through a debenture issue.