Sri Lanka’s LB Finance Rs2.0bn debt oversubscribed

(L-R) : Jeevith Senaratne, Director Operations - Star Garment Group; Shanaka Rabel, Group Chief Digital and Transformation Officer - Stretchline Holdings Ltd; Janaka Botejue, Chairman – Bernard Botejue Industries; Sanjeewa Kodikara, Chief Information Officer- Hirdaramani Group

Nov 19, 2013 (LBO) – A 2.0 billion rupee debt sale by Sri Lanka’s LB Finance has been oversubscribed and close on its opening day, an official said. The offer is managed by Merchant Bank of Sri Lanka.

LB Finance, a registered finance company offered debt paying 14 percent monthly ( annual effective rate of 14.93 percent) 14.5 percent every six months (annual effective rate of 15.03 percent) and 15 percent debt paying annually.

The subordinated debt has a tenor of 5-years.

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