Smooth Ride

Bus leasing specialist, Peoples Leasing, raised another Rs. 300 mn via securitisation paper for its general business expansion.
First Capital Markets, the debt-raising arm of the First Capital Group, placed the four-year instrument at an average cost of 12.5 percent to the issuer.rn

rnldblquote Rates were tiered according to the risk profile of the assets. The issue was fully subscribed within one week of opening the issue,
dblquote says Janaka Udumulla of First Capital Markets.rn

rnFirst Capital had found ready buyers among institutional investors. Investors were found from Colombo as well as channeled through First Capital branches, located in Kandy and Matara.rn

rnDeutsche Bank acted as Trustee to the issue, while FJ & G de Saram handled the legal aspects. rn

rnPeoples Leasing made a Rs. 154 mn net profit last year, with earnings per share of Rs. 15.40.rn

rnMost major leasing companies have raised funds by the way of Securitising their lease receivables. Securitisation offers a company ac