Sri Lanka mortgage lender to sell Rs2bn in debt

Oct 08, 2013 (LBO) – Sri Lanka’s HDFC Bank, a mortgage lender is planning to sell 2.0 billion rupees in secured debt. Fitch has rated the lender ‘BBB(lka)’ rating with a stable outlook.

The Colombo Stock Exchange said it had approved the sale of 10 million 100 rupee debentures with an option to sell another 10 million if there is more demand.

State-run People’s Bank’s investment banking unit will manage the sale.

HDFC is 51 percent state-owned as began as a building society in 1984. It was licensed as a spcialised bank in 2003 and listed on the Colombo Stock Exchange.