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Sri Lanka’s LB Finance Rs2.0bn debt oversubscribed

Nov 19, 2013 (LBO) - A 2.0 billion rupee debt sale by Sri Lanka's LB Finance has been oversubscribed and close on its opening day, an official said.

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The offer is managed by Merchant Bank of Sri Lanka.

LB Finance, a registered finance company offered debt paying 14 percent monthly ( annual effective rate of 14.

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93 percent) 14.5 percent every six months (annual effective rate of 15.

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03 percent) and 15 percent debt paying annually.

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The subordinated debt has a tenor of 5-years.

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