People’s Leasing to raise Rs. 8 b via debentures

Friday, 18 June 2021 00:19 - - {{hitsCtrl.values.hits}}

People’s leasing and Finance Plc has announced preliminary plans to raise Rs. 8 billion via a listed debenture issue.

It proposes to issue 80 million listed, rated, unsecured, senior, redeemable debentures at Rs. 100 each. The issue is subject to regulatory approval. Separately PLC also announced a scrip dividend of 1 new share for 17.33 shares held for the FY21. Around 98 million shares are to be issued at Rs. 13 each with a total value of Rs. 1.27 billion.

The company last issued a listed debenture of four and five year tenor in 2018 and raised Rs. 6 billion.

As at 31 March, loans and receivables of PLC amounted to Rs. 141/38 billion, down by 4.3% from a year earlier. At group level it was down by 3% to Rs. 149.3 billion. Customer deposits were down by 5% to Rs. 101.5 billion at company level and by 3.6% at group level to Rs. 103.7 billion.