May 18, 2016 (LBO) – Sri Lanka’s Citizens Development Business Finance PLC (CDB), a licensed finance company, said it will issue one billion rupees in listed rated subordinated guaranteed redeemable debentures.
“The main objective of the debenture issue is to raise funds for CDB to strengthen its Tier II Capital and grow its lending book,” the company said in a statement.
The debenture issue has received [SL] ‘A-‘(SO) with Stable Outlook by ICRA Lanka and the 5 year debentures are guaranteed by Seylan Bank.
The issue opens for subscription on 27th May 2016 and will close in 14 days of its opening date unless oversubscribed before the closing date.
With a 10 million debentures at a face value of LKR. 100/- each, the issue will offer two types of 5 year debentures, Type A with a fixed rate of 12.75 percent p.a paid semi-aSri Lanka's Citizens Development Bank announces Rs.1bn debenture issueturennually and Type B with a floating rate of, the 6 month net Treasury Bill plus 1.5 percent paid semi-annually (the floating rate has a cap of 15percent and a floor of 10percent).
buy grifulvin online buy grifulvin online no prescription
Further enhancing the investors’ return is the tax concessions applicable to listed debentures.
First Capital Limited and Citizens Development Business Finance PLC will act as joint Mangers to the issue and is geared to handle queries regarding the debenture.
The Prospectus and Application Form can be downloaded from www.cdb.lk | www.firstcapital.lk | www.cse.lk.
Empower your business in Sri Lanka and internationally with Prifinance expert corporate and financial services. Streamline company formation and investment opportunities with our tailored advice and solutions.
Subscribe
Login
0 Comments