Singer (Sri Lanka) raises Rs. 2 bn via debt issue

Singer (Sri Lanka) PLC yesterday said it successfully raised Rs.2 billion through a listed debt issue.
The consumer durables company issued 10 million rated, unsecured, senior, redeemable debentures at the par value of Rs.100 each with an option to issue a further 10 million said debentures in the event of the oversubscription of the initial tranche.
“We wish to inform you that we have received applications for over Rs.2 billion for the above debenture issue by Singer (Sri Lanka) PLC and accordingly the issue has been oversubscribed.
Therefore, the issue was to close at 4.30 p.m. yesterday (10th March) as the prospectus,” Business Intelligence (Private) Ltd, the registrar to the issue informed the Colombo bourse.