Sri Lanka’s Singer Finance to raise Rs1.5bn in listed debt

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Mar 28, 2016 (LBO) – Singer Finance, a fully owned subsidiary of Singer said it is planning to raise as much as 1.5 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange.

The finance company said in a stock exchange filing that it wanted to sell 10 million debentures of 100 rupees each with an option to issue another 5 million debentures if the initial offer got oversubscribed.

Capital Alliance Partners is managing the debt issue and the subscription list will be open on 31 March 2016.

Fitch Ratings has assigned Singer Finance proposed debt issue, a final National Long-Term Rating of ‘BBB(lka)’.