Singer Finance Rs. 1 b debenture issue oversubscribed

Thursday, 14 May 2020 00:00 - - {{hitsCtrl.values.hits}}

Singer Finance (Lanka) PLC received a strong vote of confidence from investors with its recent Listed Rated Unsecured Senior Redeemable three year and five year, Rs. 1 billion debenture issue being oversubscribed.

The subscription list closed on Wednesday 13 May. This debenture issue is rated BBB (lka) by Fitch Ratings Lanka Ltd. The par value of the debenture was Rs. 100.

Singer Finance is a resilient and trusted financial institution with a diversified asset portfolio spanning across the country, and is a 75% owned subsidiary of Singer (Sri Lanka) PLC whose holding company is one of Sri Lanka’s largest business conglomerates Hayley’s PLC. The successful subscription of this debenture is an attestation of the trust placed in the company by investors

Established in 2004 as a full service finance company engaged in the financing of capital goods, vehicles, agricultural equipment and mobilising of fixed deposits, Singer Finance operates across 35 branches island-wide. The company is also rated ‘BBB (lka) with a stable outlook by Fitch Ratings, and is ranked among the Top 25 Great Places to Work in Sri Lanka.

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