People’s Leasing & Finance plans Rs.15bn debenture issue

People’s Leasing & Finance PLC said its board has approved a proposal to raise up to Rs.15 billion through a listed, rated debenture issue, adding a fresh funding instrument to its capital structure.
In a filing to the Colombo Stock Exchange, the company said it would issue up to 150 million unsecured, subordinated, redeemable debentures, with a five-year tenure. 
The issuance has been cleared by the Central Bank of Sri Lanka, under Finance Companies (Debt Instrument) Direction No. 3 of 2013 and remains subject to final regulatory approvals.