Siyaptha Finance Rs. 2.5 b debenture snapped up

Friday, 9 September 2016 00:01 - - {{hitsCtrl.values.hits}}

Siyapatha Finance Plc said its debenture issue worth Rs. 2.5 billion was oversubscribed and closed on its official opening day which was yesterday.

It issued 20 million rated, unsecured, senior, redeemable debentures of Rs. 100 each with an option to issue a further 5 million debentures in the event of an oversubscription.

The Company said yesterday it received applications for over 25 million debentures or Rs. 2.5 billion and the issue was closed. Details will be released shortly.

The issue offered two types of debentures; Type A was for a tenure of 36 months with a fixed rate of 13% per annum paid annually and Type B was for a tenure of 60 months with a fixed rate of 13.5% per annum paid annually. Further enhancing the investors’ return are the tax concessions applicable to listed debentures.

The main objective of the issuance is to raise funds for Siyapatha Finance to strengthen its lending portfolio with product diversification to suite the market demand.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.