HNB 5 year Debenture Issue over-subscribed

Hatton National Bank PLC's 5 year Debenture issue of Rs 2 billion with the option to issue a further Rs 2 billion, in the event of an over - subscription,was opened on Wednesday. The issue was over-subscribed on day one and hence was closed on the same day.

Commenting on the issue, Jonathan Alles, the Acting CEO of HNB PLC said that the Bank was successful in raising the full amount of Rs 4 billion including the green shoe option of Rs 2 billion.

Funds raised through the debenture will support balance sheet growth of the Bank and we wish to place on record our sincere appreciation to the investors for the trust and confidence placed in HNB. Acuity Partners (Pvt) Ltd., acted as Managers to the issue while Deutsche Bank AG, Colombo is the Trustee to the issue. SSP corporate Services (Pvt) Ltd are the Registrars and HNB acted as the banker and lawyers to the issue.