Category: Companies

Dec 03, 2008 (LBO) – Sri Lanka’s Seylan Bank is seeking at least 400 million rupees through a 5-year debenture issue that offers annual interest rates as high as 21.5 percent with an option to raise a further 600 million rupees. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]

Sept 25, 2008 (LBO) –Sri Lanka’s John Keells Holdings (JKH) said it would give back 2.2 billion rupees to shareholders through a buy back of one share for every 25 held at 90 rupees. The shares are being bought back above the market price. JKH closed at 86.25 rupees on Wednesday. The firm sold rights […]

Sept 25, 2008 (LBO) – Sri Lanka’s state-run National Savings Bank (NSB) is raising a 100 million US dollar one-year loan with Citibank Sri Lanka with the deal to be wrapped up by mid-October, an official said. To recieve instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The NSB […]

July 21, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance began trading at the Colombo bourse Monday at 13.50 rupees, above its issue price of 12.00, dealers said. Property rich Association Electrical was up 50 rupees to 1,200, The Finance was down 1.00 rupee at 49.00 rupees, John Keells Holdings up 25 cents at 104.75 in […]

April 17, 2008 (LBO) “Global Telecommunication Holdings (GTH), a Netherlands incorporated unit through which Malaysia’s UT group is trying to acquire control of Sri Lanka Telecom, has raised its stake in the telco, brokers said Thursday. GTH bought over 6.7 million shares of SLT at 49 rupees per share Thursday, CT Smith Stockbrokers, which bought […]

March 5, 2008 (LBO) – Standard Chartered and Deutsche Bank has won a deal to raise up to 300 million dollars for Sri Lanka, priced 259 to 370 basis points above London benchmark rates, the government’s debt office said. . Standard Chartered has been mandated to raise 150 million dollars and go up to a […]

Feb 25, 2008 (LBO) – Credit rating agency Lanka Ratings was re-branded as RAM Ratings (Lanka) Limited following a reorganization of its Malaysian parent company RAM Holdings Berhad, Monday. RAM Holdings, an affiliate of the world’s largest ratings agency Standard and Poor’s (S&P), plans to expand regionally following the re-branding process. Suresh Menon, executive director […]

Oct 09, 2007 (LBO) – Standard and Poor’s has confirmed Sri Lanka’s B+ sovereign rating on the eve of a maiden global bond offer, but warned that excessive commercial borrowing could reduce support for the rating. Fitch Ratings had given the bond a BB- rating, a notch higher than S&P but with a negative outlook. […]

May 16, 2007 (LBO) – Merchant Bank of Sri Lanka, a subsidiary of Bank of Ceylon, is considering diversifying into property development to boost its profitability and revenue composition.MBSL also commenced granting personal loans apart from its leasing and hire purchase portfolio, the bank said in a statement on its debenture issue that opened last […]

April 20, 2007 (LBO) – Dialog Telekom’s five billion rupee preference share issue had been rated AA+ (lka), a notch below the telco’s senior debt rating of AAA (lka), Fitch Ratings said Friday. The company is 87.67 percent owned by Telekom Malaysia Berhad. “The one-notch difference between the issuer and preference shares’ ratings reflects the […]

January 8, 2007 (LBO) – Sri Lanka’s state-run Bank of Ceylon plans to tap the international capital markets early this year to raise 100 million dollars via a three-year syndication loan, a senior official said. The deal, arranged with sole bookrunner HSBC, was earlier scheduled for late last year.Bank of Ceylon was forced to pull […]