Sri Lanka’s Senkadala Finance debt gets Rs1.3bn in orders

Dec 14, 2013 (LBO) – A debt sale by Sri Lanka’s Senkadagala Finance Plc has received applications for 1.3 billion rupees, the firm said. The issue opened and closed on December 06 with 147 applications coming in for the 5-year subordinated debentures.

The debenture proceeds are used to boost capital and future lending.

Senkadagala Finance said up to 50 percent, or 6.25 million debentures will be given to investors of strategic importance, that the company may partner with in future business.

The balance will be pro-rated at the rate of 81.77 percent among other investors with applications up to 150,000 (15 million rupees) being allotted in full.

The issue was jointly managed by Taprobane Wealth Plus (Pvt) Ltd and Capital Alliance Partners Ltd.