First Capital Holdings Rs. 2 b debenture issue snapped up on opening day

The Listed, Rated, Unsecured, Senior, Redeemable Debenture Issue of First Capital Holdings PLC with a tenure of five years was successfully oversubscribed on the opening day, 1 February. First Capital Holdings PLC having received a substantial number of applications, decided to exercise the option of increasing the issue up to Rs. 2 billion. 

Commenting on the Issuance, First Capital Holdings PLC Director/Chief Executive Officer Dilshan Wirasekara said the oversubscription of the debenture issuance reflected the confidence that the public and the investor community have placed on us, given First Capital’s financial stability, strong performance, robust governance framework and trust proven over three decades. 

Offering investors with a reliable investment option at a critical juncture in the economic revitalisation of the country, the issuance provides optimum returns amidst a very low interest rate environment.

“We are pleased that our Corporate Finance Division was able to jointly manage this issue with the People’s Bank Investment Banking unit. First Capital’s debt structuring business alone has reported impressive growth in 2020 and continues its momentum this year, having helped corporates raise Rs. 42 billion.”

First Capital is a member of the Janashakthi Group focused on delivering ‘Performance First’ through its operations as primary dealer, stockbroker, corporate advisory, debt structuring and wealth management. With over three decades of expertise in providing capital market solutions, First Capital Holdings PLC is the only listed full-service investment institution in Sri Lanka. First Capital Holdings PLC is rated [SL]A with Stable outlook by ICRA Lanka Ltd.