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New Lease

HNB securities issued unsecured subordinated debt to its owners the HNB group to carry out the recapitalization.

rnCEO Rienzi Wijetileke told Lanka Business report that the money was injected in June after the primary dealer suffered heavy losses in its portfolio.

rnHNB securities, a fully own subsidiary of the HNB group turned around posting a 16 million profit for the first 6 months of the present financial year. The primary dealer will pay interest on the debt to HNB.

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(LBR)rn