LB Finance announces Rs. 20 b debenture issues

Wednesday, 8 October 2025 00:26 - - {{hitsCtrl.values.hits}}

Dhammika Perera’s LB Finance PLC has received regulatory approval for two debenture issues to raise a total of Rs. 20 billion.

The first is for 50 million listed, rated, senior, unsecured, redeemable debentures with an option to issue a further 30 million debentures upon oversubscription of the initial issue and with a further option to issue up to a further 20 million in the event of an oversubscription of the initial issue and the second tranche to raise up to a maximum amount of Rs. 10 billion.

The company is also proposing to offer 50 million listed, rated, subordinated, unsecured, redeemable debentures with an option to issue a further 30 million debentures in the event of an oversubscription of the initial issue and with a further option to issue up to a further 20 million in the event of an oversubscription of the initial issue and the second tranche to raise up to a maximum amount of Rs. 10 billion.

The right to exercise the options will be on discretion of the company.

The Department of Supervision of Non-Bank Financial Institutions of the Central Bank of Sri Lanka has approved the debenture issues.

The Company proposes to have these debentures listed on the Colombo Stock Exchange subject to receipt of the requisite approvals from the exchange.

LB Finance reported a Rs. 276 billion asset base as at 30 June with retained earnings amounting to Rs. 41.3 billion. Its deposit base was Rs. 145 billion and its loan book was Rs. 223 billion as at 30 June. Debt instruments and other borrowed funds amounted to Rs. 19.8 billion.