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EAP Broadcasting in Rs.3bn debt issue

26 May 2015 03:39 am - 0     - {{hitsCtrl.values.hits}}


EAP Broadcasting Company Limited PLC is to issue debentures worth Rs.3 billion and the Colombo Stock Exchange has granted the provisional approval to list them.
The company will be issuing 15 million rated, redeemable debentures at an issue price of Rs.100, with an option to issue up to further 15 million debentures in the event of an oversubscription.
The debt securities will entail a sinking fund mortgaged in favour of a trustee. From an investor point of view, a sinking fund adds safety to a corporate bond issue: with it, the issuing company is less likely to default on the repayment of the remaining principal upon maturity.
The subscription list of the issue will open on June 11, 2015. The managers to the issue is People’s Bank Investment Banking Unit and SSP Corporate Services functions as registrars to the issue.


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