LOLC to raise Rs. 8 b via listed debenture

LOLC Holdings Plc has announced plans to raise a maximum of Rs. 8 billion via a listed debenture issues.

It said the Board of Directors resolved to issue 50 million Listed, Rated, Unsecured, Senior, Redeemable debentures of Rs. 100 each with an option to issue a further 30 million debentures at the discretion of the company in the event of oversubscription of the original amount.  The move is subject to regulatory approvals.