SANASA Life Insurance to raise Rs. 500 m via private debenture issue

Wednesday, 24 June 2026 00:04 - - {{hitsCtrl.values.hits}}

SANASA Life Insurance Company PLC has announced its intention to issue up to 5 million unrated, unlisted, unsecured, Tier II, redeemable, cumulative, subordinated debentures to raise up to Rs. 500 million via a private placement to identified investors subject to a lock-in clause.

In a disclosure to the Colombo Stock Exchange yesterday, the Company confirmed that the Proposed Issue will not have any adverse or material impact on the rights, interests, security or repayment capacity relating to the existing listed debentures currently in issue.

It also confirmed that the Trustee of the existing listed debentures was duly notified on 24 February 2026 of the proposed issue, prior to its opening. The Trustee granted its concurrence on 26 March 2026.

Approval was obtained from 75% of the holders of its existing listed debentures in respect of the proposed issue.

SANASA Life said the latest notification was submitted in compliance with the conditions stipulated in the Securities and Exchange Commission’s approval letter dated 6 April 2026 for the proposed issue.