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Singer Sri Lanka in Rs.3bn debt issue

21 April 2015 09:24 am - 0     - {{hitsCtrl.values.hits}}

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Leading consumer durables retailer Singer Sri Lanka PLC plans to raise up to Rs.3 billion through a debenture issue.
The unsecured redeemable debentures are likely to have a three-year tenure and to be issued in two tranches with fixed and floating rates.
Fitch Ratings Lanka has assigned ‘A-(lka) (EXP)’ to the issue on par with Singer’s national long-term rating.
The proceeds of the proposed issue will be used as working capital and to refinance the existing debt.
The company’s interest-bearing borrowings as at December 2014 stood at over Rs.6.8 billion. 
Singer Sri Lanka raised Rs.1.5 billion through a previous debenture issue in December 2014.
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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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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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