Monday, 9 December 2013 00:12
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The Rs. 1 billion listed debenture issue of Senkadagala Finance Plc was oversubscribed and closed on its official opening on Friday.
The company issued 10 million subordinated, unsecured, listed, redeemable and rated debentures at Rs. 100 each.
The option of issuing a further 2.5 million debentures at Rs. 100 each wasn’t exercised.
The debentures rated BBB have a tenor of up to five years with fixed coupons.
The issue will help improve the company’s Tier 2 capital position, and reduce its interest-rate risk.
