SLT to issue Rs. 5 b debentures

Sri Lanka Telecom Plc (SLT), a blue-chip company and a dominant player in the Sri Lankan Telecom and Information Technology Enabled Services (ITES) space, announced today that the directors of the company have resolved to issue Rs. 5 billion listed debentures with a green shoe option for a further Rs. 2 billion, subject to regulatory approval. 

The company expects to invest the proceeds of the debenture in its service expansions in areas such as IPTV, FTTH, data centres, global connectivity and to improve the maturity profile of its long-term debt.

SLT is a listed company on the Colombo Stock Exchange (CSE) and has positioned itself as the preferred digital lifestyle provider (DLP) in Sri Lanka, providing a wide range of services such as voice, data, internet, global connectivity, television, education and other related services to the country. 

Having maintained a fair growth rate despite the competitive and challenging market environment, the group reported a turnover of Rs. 74 billion during 2016 while owning Rs.143 billion in total assets by the end of the same year.