PLC gets Rs. 10 b capital boost with Tier 2 debt issuance

Friday, 3 April 2026 00:12 - - {{hitsCtrl.values.hits}}

Via successful private placement of trust certificates

People’s Leasing and Finance PLC (PLC) yesterday said it has completed a Rs. 10 billion unlisted, unrated, unsecured, subordinated five-year term loan facility through the issuance of trust certificates on a private placement basis, aimed at strengthening its Tier 2 capital.

The Central Bank of Sri Lanka (CBSL), by letter dated 31 March 2026, informed the company that the Governing Board, at its meeting held on 18 March 2026, had granted approval to include the facility under Tier 2 capital, in terms of the Finance Business Act (Capital Adequacy Requirements) Direction No. 3 of 2018, subject to compliance with relevant regulatory requirements.

The company said the capital raising exercise is intended to reinforce its capital base while supporting future growth, in line with regulatory capital adequacy thresholds.