Fund Raising

Upcoming leasing specialists, Allied Finance has raised around Rs. 100 mn by securitising part of its Rs. 600 mn leasing portfolio. rn

rnSecuritisation pools together a group of receivables from financial assets. A trust certificate or a fixed income instrument is then issued to investors based on the strength of the cash flows. rn

rnThe issue carries fixed rate of 250 basis points above the one-year treasury bill is paid quarterly and has a three year maturity. Deutsche Bank AG acted as trustees for the transaction, while Nithya Partners did the legal documentation.rn

rnQuoted on the Colombo Stock Exchange, Alliance Finance offers a range of products from higher purchases, consumer durable finance, import finance, real estate, general trading and share portfolio management and collaboration financing. These services are offered through 11 other subsidiary companies, which belongs to the Alliance Group of Companies. rn

rnSince starting off in 1956 as a deposit taker, the firm has ventured into the pro