Multi Finance raises Rs. 350 m

Multi Finance Plc has raised Rs. 350 million via a private issue of asset-backed securities.

“The core objective of this issue is to finance new lease and hire purchase portfolio as part of the Company’s growth strategy,” Multi Finance said in a Stock Exchange filing.

“The Company firmly believes that this process provides effective medium term funding which in turn allows for very attractive medium term return for investors,” the Company added.

Seylan Bank Plc has been appointed as trustees to manage the Trust.