AMF withdraws proposed listed high-yield bond issue

Saturday, 3 January 2026 00:36 - - {{hitsCtrl.values.hits}}

Associated Motor Finance Company PLC (AMF) yesterday announced the withdrawal of its proposed listed, rated, unsecured, subordinated, redeemable high-yield bond issue to raise Rs. 1.25 billion.

The company said the decision follows further to its announcement on 26 March 2025 regarding the proposed bond issue.

Associated Motor Finance Company PLC said its Board of Directors, at a meeting held on 17 December 2025, resolved not to proceed with the bond issue, taking into account the recent acquisition of a majority stake in the company by LB Finance PLC.

The Board also considered the proposed amalgamation of the two companies and the synergies expected to accrue to Associated Motor Finance Company PLC as a result of the planned amalgamation, the company said.

Accordingly, the company said it will not proceed with the proposed bond issue at this stage.

The share price of the company ended 10 cents lower yesterday at Rs. 69.70.