Vallibel Finance to raise Rs. 3 b via first-ever listed debenture issue

Tuesday, 12 November 2024 03:01 - - {{hitsCtrl.values.hits}}

Vallibel Finance PLC has announced its first-ever listed debenture issue to raise

Rs. 3 billion.

It will issue 20 million listed, rated, subordinated, unsecured, redeemable debentures of Rs. 100 each with an option to issue a further 10 million debentures at the discretion of the Company in the event of an oversubscription of the initial tranche.

The debentures are of two types. Type A is a five-year tenor with fixed coupon rate of 12.95% per annum (AER 13.37%), payable semi-annually; and Type B five-year tenor, with fixed coupon rate of 13.37% (AER 13.37%), payable annually.

The official opening of the issue is 20 November 2024, and the issue can be subscribed from today.

The managers to the issue is First Capital Advisory Services Ltd.

In the first six months of FY25, Vallibel Finance saw its consolidated net profit rise by 24.5% to Rs. 1.1 billion. Group net operating revenue grew by 22.7% to Rs. 4.96 billion and pre-tax profit by 23% to Rs. 1.9 billion.