Sanasa Bank’s debentures draw applications over Rs.4bn

Micro finance lender Sanasa Development Bank PLC said it had drawn applications for over Rs.4 billion, for its listed debenture issue which officially opened on Monday.
The bank last week announced the issue of 20 million rated, guaranteed, redeemable debentures at the par value of Rs.100 with an option to issue up to a further 20 million debentures in the event of an oversubscription of the initial tranche.
The bank on Monday said the initial issue of Rs.2 billion was oversubscribed and the issue would be closed at 4.30 p.m. on the following day, as per the prospectus.
The bank further said any application received until 4.30 p.m. of December 29th to the collection points as mentioned in the issue prospectus would be accepted.