Sri Lanka’s first-ever Rs. 1 b high-yield bond by Fintrex Finance snapped up on opening day

Tuesday, 4 March 2025 03:39 - - {{hitsCtrl.values.hits}}

Chairman Ajit Gunewardene

CEO/GM Jayathilake Bandara

Fintrex Finance has made history by issuing Sri Lanka’s first-ever high-yield bond worth Rs. 1 billion and it being oversubscribed on its opening day itself.

The issue, initially set at Rs. 500 million with an option to raise an additional Rs. 500 million, was concluded on 25 February. The bonds will be listed on the Colombo Stock Exchange (CSE), marking Fintrex’s transition into a public limited company (PLC).

In recent years, Fintrex has achieved several milestones. The company’s credit rating was upgraded twice within six months by Fitch Ratings – from BB- in August 2024 to BB in January 2025. Additionally, Fintrex secured the prestigious Silver Award at the TAGS Annual Report Awards in December 2024. The company has also been recognised as a Great Place to Work for three consecutive years and was listed among Sri Lanka’s Most Respected Entities by LMD in 2022 and 2023. Furthermore, in 2021, Fintrex was named Sri Lanka’s Fastest Growing Finance Company by the International Business Magazine.

Fintrex Chairman Ajit Gunewardene said: “This overwhelming response from both institutional and individual investors is a strong vote of confidence in our strategic direction. It reflects their trust in our commitment to sound governance and sustainable financial performance, positioning us as a key player in Sri Lanka’s private-sector financial services industry.”

Fintrex CEO Jayathilake Bandara emphasised that the bond issue would strengthen the company’s Tier II capital base, support the expansion of its lending portfolio, and help bridge maturity mismatches in its assets and liabilities.

The name ‘Fintrex’ is derived from ‘financial entrepreneurs’ and ‘experts,’ signifying the company’s unique value proposition. Looking ahead, Fintrex aims to integrate advanced technology to enhance operational efficiency, align with emerging business trends, and meet the evolving expectations of modern clients. By embracing digitalisation, the company also seeks to minimise its environmental footprint and ensure sustainable business practices.

The Board of Directors of Fintrex are Chairman Ajit Gunewardene, Ronnie Peiris, Sabry Ibrahim, Shantanu Nagpal, Nilam Jayasinghe, Shrihan Perera, Fonny De Fonseka, and Indrajith Wickramasinghe.

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