People’s Leasing & Finance Debenture Issue oversubscribed
People's Leasing & Finance PLC announced that the entire Debenture
Issue of Rs 6 billion has been oversubscribed. The issue which opened
yesterday comprised of 30,000,000 listed, senior, unsecured, redeemable
and rated debentures at a par value of Rs. 100 each, amounting to Rs.
three billion and a further 30,000,000 debentures totaling up to a
maximum of 60,000,000 debentures worth Rs. 6 billion.
The managers to the issue are Taprobane Wealth Plus (Pvt) Ltd and
Investrust Capital (Pvt) Ltdwhilst Deutsche Bank AG acts as the Trustee
to the issue.
Fitch Ratings Lanka has assigned a final national long term rating of
(AA-) to these debentures. The over-subscription of the Debenture on the
opening day reflects the trust placed in People's Leasing & Finance PLC
by the people of Sri Lanka. The country's largest non-banking financial
institution and the leader in leasing - People's Leasing & Finance has
been awarded a rating of B+ by Fitch Ratings International, a B+/B by
Standard & Poor's and a AA- Fitch Lanka. Founded in 1995, People's
Leasing & Finance PLC (PLC) is Sri Lanka's unshakable leader in the
leasing sector.
In the past 16 years, People's Leasing has built an extraordinary
tradition of excellence in all spheres of leasing and is now the
established market leader.
PLC's customers range from individuals to SMEs to blue chip companies
in every corner of the island.
The Company has contributed immensely to the country's economic
growth and the quality of life of millions of Sri Lankans.
The People's Leasing Group has diversified to include six
subsidiaries, united under the PLC's name.
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