NDB goes for Rs. 7.5 b debenture

Wednesday, 18 February 2015 00:17 - - {{hitsCtrl.values.hits}}

National Development Bank (NDB) has announced plans to raise a maximum of Rs. 7.5 billion via a listed rated unsecured senior redeemable debenture issue. The minimum amount to be raised will be Rs. 5 billion with an option to go up to Rs. 7.5 billion. The debenture issue is subject to regulatory approval and other conditions acceptable to NDB. NDB last had a listed debenture in December 2013, raising Rs. 10 billion, the largest ever in Sri Lanka’s corporate history. It issued four types of debentures – five-year fixed rate (at 13% payable semi-annually), five-year fixed rate (at 13.4% payable annually), 10-year fixed rate (at 13.9% payable annually) and 12-year fixed rate (at 14% payable annually).

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