Sri Lanka’s DFCC launches bond: report

Directory launched in the presence of Jagath Perera, CA Sri Lanka President, Manil Jayesinghe, CA Sri Lanka Vice President, Harsha Basnayake, Ernst & Young Asia Pacific Transaction Advisory Managing Partner, Aruni Rajakarier, Chairperson of the CA Sri Lanka Women Empowerment Committee, Anoji De Silva, Alternate Chair of the Women Empowerment Committee and Dulani Fernando, CA Sri Lanka CEO

Oct 22, 2014 (LBO) – Sri Lanka’s DFCC Bank has launched a 5-year dollar denominated bond in international markets, a media report said. DFCC is rated ‘B’ by S&P and ‘B+’ by Fitch.

Bloomberg Newswires said initial price guidance has been set at around 9.6 percent.

DFCC is a listed private bank.

Sri Lanka’s state-run National Savings Bank sold 750 million US dollars in bonds at 8.875 percent after going market looking for at least 500 million US dollars.

DFCC was intending to raise at least 250 million US dollars along with another listed bank National Development Bank.