Seylan Merchant Leasing, a Seylan Merchant Bank subsidiary, is issuing a Rs. 50 mn four year unsecured, subordinated, redeemable and unlisted debentures to be utilised for its leasing activities.
A further Rs. 50 mn would be raised in the event of an oversubscription. Interest rates would range from 14.5 percent, with interest payment annually, to 14 percent, with interest payment monthly. rn
rnThe minimum subscription is Rs. 10,000.rn
rnSeylan Merchant Leasing was incorporated on July 31, 2000 and commenced operations in August 2000. rn
rnIts mission is to develop and market a diverse range of value-added leasing products. rn
rnThe company declared a post tax profit of Rs 6.52 million for the first six months of 2002. The company has been registered by the Central Bank of Sri Lanka as a Registered Financern
rnLeasing Establishment under the Finance Leasing Act No. 56 of 2000.rn