Lanka Business Online

First Capital Treasuries announces Rs750mn debenture issue


Jan 23, 2020 (LBO) – First Capital Treasuries, the Primary Dealer arm and a subsidiary of First Capital Holdings has announced that it intends to issue listed, rated, subordinated, unsecured, redeemable debentures with a principal value of LKR 750Mn maturing in five years.

Following interest payment options will be payable semi-annually; Type A – 12.75% p.a. (AER of 13.16% p.a.) and Type B – Weekly AWPLR + 2.00% p.a. The issue will open on Monday 27th January 2020.

First Capital Treasuries is the first standalone primary dealer licensed and appointed by the Central Bank to deal exclusively in government securities and the company currently stands as the leading standalone primary dealer, having a capital base in excess of LKR 3Bn.

First Capital Treasuries is listed on the Colombo Stock Exchange and bears an issuer rating of [SL] A- (Stable) by ICRA Lanka Ltd.

The debenture issue is managed jointly by the Corporate Finance Division of First Capital Limited and People’s Bank Investment Banking Unit, while Hatton National Bank will act as the Trustee to the issue.

Priced at a face value of 100 each and listed on the CSE, the debenture issue is rated [SL] BBB+ (Stable) by ICRA Lanka Ltd.

Chief Dealer, First Capital Treasuries, Anjelo Simmons said the company plans to utilize the funds raised through the debenture issue to achieve the following objectives;

First Capital Treasuries reported profits after tax of LKR 671Mn over the first half of financial year 2019/20.

Exit mobile version