HNB’s BASEL III Rs. 7 b debentures snapped up

Friday, 16 July 2021 02:37 - - {{hitsCtrl.values.hits}}

Hatton National Bank’s (HNB) Rs. 7 billion BASEL III compliant listed debenture issue was oversubscribed on its official opening day yesterday.

HNB said, as per the prospectus, the issue closed following oversubscription.

The bank issued 50 million BASEL III compliant-Tier 2, listed, rated, unsecured, subordinated, redeemable debentures with a non-viability conversion at Rs. 100 each to raise Rs. 5 billion and offered a further 20 million debentures to raise Rs. 2 billion in the event of an oversubscription of the initial amount. The debentures carry a fixed rate of 9.50% payable annually.

Joint managers and placement agents were Acuity Partners Ltd. and Capital Alliance Partners Ltd., respectively.

HNB last had a BASEL III compliant debenture issue worth Rs. 10 billion in September 2019. The two-type issue was oversubscribed drawing applications worth Rs. 16.4 billion.

The five-year debenture offered a fixed rate of 12.30% payable annually, and a seven-year fixed rate instrument of 12.80% payable annually.

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.