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Fund Raising

Seylan Merchant Leasing, a Seylan Merchant Bank subsidiary, is issuing a Rs. 50 mn four year unsecured, subordinated, redeemable and unlisted debentures to be utilised for its leasing activities.
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A further Rs. 50 mn would be raised in the event of an oversubscription.
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Interest rates would range from 14.5 percent, with interest payment annually, to 14 percent, with interest payment monthly.
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rnThe minimum subscription is Rs. 10,000.rn

rnSeylan Merchant Leasing was incorporated on July 31, 2000 and commenced operations in August 2000. rn

rnIts mission is to develop and market a diverse range of value-added leasing products. rn

rnThe company declared a post tax profit of Rs 6.52 million for the first six months of 2002.

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The company has been registered by the Central Bank of Sri Lanka as a Registered Financern

rnLeasing Establishment under the Finance Leasing Act No. 56 of 2000.rn

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