LOLC to raise up to Rs.8bn via listed debt

LOLC Holdings PLC yesterday revealed plans to raise up to Rs.8 billion through a listed debt issue.
The group said it plans to issue 50 million listed, rated, unsecured, senior redeemable debentures with a par value of Rs.100, with an option to issue up to a further 30 million of the said debentures at the discretion of the company in the event of an oversubscription of the initial issue.
“We confirm that the aforesaid issue will be subject to necessary regulatory approvals and that the company proposes to have these debentures quoted on the Colombo Stock Exchange,” a stock market filing by the company said.