Sri Lanka’s Commercial Credit goes for second tranche

Feb 08, 2013 (LBO) – Sri Lanka’s Commercial Credit is seeking subscriptions for debentures up to 500 million rupees, after the first tranche of 250 million rupees was taken up, managers to the issue said. Up to February 07, 168 applications worth 354 million rupees had been received.

The Merchant Bank of Sri Lanka which is managing the issue said the subscriptions will be kept open until February 2013 or till orders reach 500 million rupees.

The unsecured debenture has been rated BB by RAM Ratings, two levels below investment grade. .