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LOLC Holdings to raise Rs.2bn via unlisted debt

21 July 2021 09:04 am - 0     - {{hitsCtrl.values.hits}}

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LOLC Holdings PLC yesterday revealed plans to raise up to Rs.2 billion via an unlisted debenture issue.
Accordingly, the company plans to issue 20 million unlisted, unsecured, senior, redeemable debentures of par value of Rs.100 each.


The company will be issuing three types of debentures, with tenures of five years and 10 years. The Type A debentures, with a tenure of five years, will have a fixed interest rate of 10.25 percent per annum and the interest will be paid annually. 


The Type B debentures, with a tenure of five years, will have a fixed interest rate of 9.85 per annum and the interest will be paid quarterly.


The Type C debentures, with a  tenure of 10 years, will offer a fixed interest rate of 12 percent per annum and the interest will be paid annually. 

LOLC Holdings said it obtained the approval of the Securities and Exchange Commission for the said debenture issue on July 19, 2021.


NDB Investment Bank acts as the managers and placement agents to the issue.  LOLC Holdings in February raised Rs.10 billion via a listed debenture issue to settle part of over Rs.31 billion outstanding short-term loans and overdrafts.

 

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See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 


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