Alliance Finance social bond issue oversubscribed

Alliance Finance Company (AFC) PLC’s special social bond issue has been oversubscribed, the company disclosed to the Colombo Stock Exchange (CSE) yesterday.

The issue, which offered up to 20 million listed rated unsecured senior redeemable social bonds at a par value of Rs.100 each to raise Rs.2 billion, attracted applications exceeding the targeted amount.

As a result, the company closed the subscription at 4.30 p.m. yesterday, in line with the prospectus. The basis of allotment will be communicated to the CSE in due course.