Senkadagala debentures listing today

The Colombo Stock Exchange announced that the debentures of Senkadagala Finance (SFCL) will be listed on today (11) on the Debt Securities Main Board of the CSE.

Debenture types are as follows:

• SFCL27/05/17B17.25 – Four year fixed rates debentures (17.25%) payable quarterly
• SFCL27/05/16A17 – Three year fixed rate debentures (17.0%) payable quarterly
• SFCL27/05/17C13.5 – Four year floating rate debentures payable semi-annually

Senkadagala Finance’s Rs. 1 billion debenture issue was oversubscribed on its official opening day last week. Fitch assigned a BBB+ rating on the debentures. Senkadagala Finance’s issue was five million rated, unsecured, redeemable debentures at Rs. 100 each with an option to issue up to a further five million debentures in the event the initial five million debentures are oversubscribed.

Debentures were of four and three years of tenure with floating and fixed rate options. For example, fixed rate on four-year instrument was 17.25% per annum and 17% on the three-year tenure.