Category: Companies

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.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 14.93 […]

Nov 11, 2013 (LBO) – Fitch Ratings has given an ‘A+(lka)’ rating for a five billion rupee debt sale by Sri Lanka’s Samapth Bank in line with an expected rating given on October 31. The subordinated debt is rated a notch below the ‘A+(lka)’ rating given for senior debt. Outlook on the rating is stable. […]

Nov 05, 2013 (LBO) – Sri Lanka’s LB Finance Plc, is planning to sell 2.0 billion rupees of listed debt, the Colombo Stock Exchange said.The CSE said it had approved an application by LF Finance to offer 10 million debentures of 100 rupees each and a further 10 million if the first tranche is oversubscribed. […]

Oct 31, 2013 (LBO) – Fitch Ratings said a 3.0 billion rupees subordinated debt offer of Sri Lanka’s Nations Trust Bank has been given an expected ‘A-(lka)’ rating. SB could be downgraded if there is an increase in risk appetite, for instance through aggressive lending or weakening of underwriting standards that can put pressure on […]

Oct 23, 2013 (LBO) – A decision on a dollar denominated bond offered by Sri Lanka’s DFCC Bank is likely to be made later today, market sources said.State-run NSB, which has almost sovereign risk had to pay 8.8 percent on a bond, sharply higher than the rate of a little over 6 percent paid for […]

Oct 17, 2013 (LBO) – Sri Lanka’s Sampath Bank said it planned to sell 5.0 billion rupees of debt listed on the Colombo Stock Exchange. The bank will offer 25 million debentures of 100 rupees each, and another 25 million if the first tranche is oversubscribed. Interest earned on listed debentures is tax free. .

Oct 17, 2013 (LBO) – A planned 8.0 billion rupee debt offer by state-run Bank of Ceylon is seeing strong demand with preliminary orders and interest assessed at about 15 billion rupees, officials said. Tier II capital instruments are normally not intended for retailers, but only to institutions who are expected to keep an eye […]

Oct 08, 2013 (LBO) – Fitch Ratings has confirmed a ‘AAA(lka)’ rating of Sri Lanka’s Ceylon Gilt-Edged Fund managed by Ceylon Asset Management Limited. “The ‘AAA(lka)’ National Fund Credit Rating is driven by the fund’s investment in government securities and repurchase agreements backed by government securities only,” Fitch Ratings said. It was also given a […]

Oct 08, 2013 (LBO) – Sri Lanka’s Treasuries yields eased at Wednesday’s auction with the 12-month yield falling 02 basis points to 10.50 percent, data from the state debt office showed. The 6-month yield fell 02 basis points from two weeks ago to 8.58 percent. Last week bids for both 3 and 6 months were […]

Oct 09, 2013 – Sri Lanka’s branch of Hong Kong and Shanghai Banking Corporation has been appointed a primary dealer in government securities.The Central Bank said the new dealers will start operations from October 14. A primary dealer can directly participate in auctions of Treasury securities.