Sri Lanka LOLC says placed Rs3bn in debt

Apr 29, 2012 (LBO) – Sri Lanka’s Lanka Orix Finance Company Ltd Plc, said it had placed three billion rupees of 7-year debt in February 2011. The firm said in a stock exchange filing that two billion rupees of debt was placed with Saakya Capital (Pvt) Ltd and one billion with Satya Capital (Pvt) Ltd, but the total was later transferred to Saakya Capital.

The firm said the debt was ‘going concern, loss absorbent, unsecured, subordinated’ debentures.