HNB’s Rs. 4 b debentures snapped up

Friday, 7 June 2013 05:44 - - {{hitsCtrl.values.hits}}

Hatton National Bank PLC’s five-year debenture issue of Rs. 2 billion with the option to issue a further Rs. 2 billion, in the event of an oversubscription, was opened yesterday.

The issue was oversubscribed on day one and hence was closed on the same day.

Commenting on the issue, HNB Acting CEO Jonathan Alles said: “The bank was successful in raising the full amount of Rs. 4 Billion including the green shoe option of Rs. 2 billion. Funds raised through the debenture will support balance sheet growth of the Bank and we wish to place on record our sincere appreciation to the investors for the trust and confidence placed in HNB.”

Acuity Partners Ltd. acted as Managers to the issue while Deutsche Bank AG, Colombo is the Trustee to the issue. SSP Corporate Services Ltd. are the Registrars and HNB acted as the Banker and Lawyers to the issue.