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Central Finance in Rs.3bn debenture issue

9 April 2015 08:27 am - 0     - {{hitsCtrl.values.hits}}

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Central Finance Company PLC (CF) is raising up to Rs.3 billion through a debenture issue.
The proposed issue has been assigned an expected rating of A+(lka) in line with the company’s rating by Fitch Rating Lanka.
The proposed debentures will have tenures of between three and five years and fixed-rate coupons. 
The company expects to use the proceeds to fund lending growth, reduce structural maturity mismatches and diversify the funding mix. 
The debentures are secured by receivables from identified hire-purchase and lease agreements exceeding 110 percent of the total outstanding value of the debenture at any given time. 
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