First Capital floats debenture issue to raise Rs. 3 b in three tranches

Friday, 19 September 2025 00:10 - - {{hitsCtrl.values.hits}}

Primary offer to raise Rs. 1 b with extension options to two more tranches if each is oversubscribed

First Capital Holdings yesterday said the Colombo Stock Exchange (CSE) had approved in principle its proposed debenture issue to raise up to Rs. 3 billion in three tranches.

First Capital Holdings will offer 10 million listed, rated, senior unsecured redeemable five-year Debentures at Rs. 100 each in the first tranche to raise Rs. 1 billion and extend the offer for a further two tranches if each were oversubscribed to raise a maximum amount of Rs. 3 billion.

The five-year bonds will be in three categories. Type A has a 11% p.a. fixed coupon rate (AER 11%) payable annually, Type B has a 10.71 p.a. fixed coupon rate (AER 11%) payable semi-annually, and Type C will have a floating rate at 364-day Treasury Bill + 2% p.a. payable and re-priced annually.

Subscription list opens next Tuesday, 23 September. The prospectus and application forms were published yesterday.