New Blood

Merchant Bank of Sri Lanka is tapping the local debt market to raise up to Rs. 200 mn to fuel its expansion programme.
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Arnfour-year unsecured debenture, which comes with a combination of fixed andrnfloating interest rates starting from 10 percent, will be on offered to thernpublic shortly.

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THE ISSUE

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Fixedrn Interest Rate: rn Floating Interest Rate

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Interestrn payment quarterly at 10% rn Interest payment quarterly

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Interestrn payment bi-annually at 10.12% Interestrn payment bi-annually

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Interestrn payment annually at 10.38% rn Interest payment annually

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*rn (Floating rate is linked to the one-year treasury bill rate. The issuern comes with a floor of 8.5% and a cap of 12.%).

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MBSLrnCEO Sunil Wijesinghe says the money will be used to grow its Rs. 1.5 bn leasingrnportfolio and expand its branch network.

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ldblquote Wernhave come out of the woods and now look forward for a higher burst of growthrnnext-year,
dblquote Wijesinghe told Lanka Business Online.

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Thernissue will not carry a credit rating and will not be listed on the Colombo StockrnExchange. The date of the issue was not annouced.

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-LBO Newsdesk: LBOEmail@vanguardlanka.comrn

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