5 December 2014 04:03 am
The managers to the issue is NDB Investment Bank Limited while S.S.P.Corporate Services (Pvt) Ltd functions as registrars.Fitch Ratings Lanka has assigned the issue a final rating of ‘A-(lka), one notch below the finance company’s national long term rating to reflect its subordination to senior unsecured creditors.The proposed debentures will have a five-year tenor with bullet principal repayment at maturity. Coupon payments will be made annually at 8.90 percent.The company expects to use the proceeds to strengthen its regulatory Tier 2 capital and to reduce maturity mismatches between assets and liabilities.