LOLC to issue USD150mn listed foreign currency bonds in Singapore

LOLC-1

Aug 09, 2016 (LBO) – Sri Lanka’s LOLC is to issue and list 150 million US dollars worth foreign currency denominated notes and bonds on the Singapore Stock Exchange.

Accordingly, the Company intends to establish a Multicurrency Medium Term Note programme on the Singapore Stock Exchange.

“The Company has identified the issue of corporate notes/ bonds under a Multicurrency Medium Term Note Programme as a viable source of funding,” LOLC said in a stock exchange filing.

“These bonds or notes will not be directly or indirectly offered or sold in Sri Lanka.”

The proposed date for the registration of the Multicurrency Medium Term Note programme on the Singapore Stock Exchange is 08th August 2016.

The Company has already obtained the approval of Sri Lanka’s Central Bank but it is yet to obtain the approval of Securities and Exchange Commission.