LOLC hikes debenture issue to Rs.10 billion

Tuesday, 2 February 2021 01:15 - - {{hitsCtrl.values.hits}}

LOLC Holdings Plc yesterday announced it is upsizing the proposed listed debenture issue to Rs. 10 billion from Rs. 6 billion previously.

No reason was given in its disclosure to the Colombo Stock Exchange but analysts said LOLC was keen to maximise from the low interest rate regime in the country at present.

Earlier it said would issue 65 million listed, rated, unsecured, senior and redeemable debentures of Rs. 100 each.

The issue is subject to regulatory approvals.

The share price of LOLC, the biggest by market capitalisation, yesterday closed at Rs. 503.75, down by Rs. 9 or 1.7%.

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