Rs. 2 b debenture of Central Finance snapped up

Wednesday, 11 December 2013 01:07 - - {{hitsCtrl.values.hits}}

The Rs. 2 billion listed debenture issue of the Central Finance Plc was oversubscribed on its official opening of yesterday itself. It issued 10 million rated, secured, redeemable debentures at Rs. 100 each with an option to offer a further equal amount in the event of an oversubscription of the original amount. Central Finance said the entire issue amount of Rs. 2 billion was oversubscribed and was closed yesterday. Fitch assigned A+ rating for the debenture, which had four types with maturity between three to five years while coupon payments will be fixed rate. CF expects to use the proceeds to fund lending growth.

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