Orient Finance Rs. 1 b debenture oversubscribed

Friday, 19 December 2014 11:44 - - {{hitsCtrl.values.hits}}

Orient Finance Plc’s Rs. 1 billion debenture issue was closed yesterday following an oversubscription on official opening. The offer was 10 million Rated, Guaranteed, Redeemable, Five (05) year (2014/2019) Debentures at Rs. 100 each. Rated A by Lanka Rating Agency the debentures carry fixed interest (9.05%p.a. payable semi-annually: AER – 9.25%) payable semi-annually. The funds raised through the issue will be utilised to finance the ongoing expansion of business activities, mainly leasing, hire purchase and term loans. In addition, the company intends to diversify the sources of its funding Manager to the issue was First Capital Ltd.

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