Sri Lanka Nations Trust Bank, SLT, People’s Leasing debt issues oversubscribed

ECONOMYNEXT – Sri Lanka’s Nations Trust Bank said its 3.5 billion Basel-III-compliant debenture issue was oversubscribed on opening day last Wednesday (11).

Sri Lanka Telecom and finance company People’s Leasing and Finance Plc which also opened debenture issues Wednesday, closed the same day after being oversubscribed.

Sri Lanka Telecom said it raised 7 billion rupees and People’s Leasing and Finance said it collected 6 billion rupees.

Nations Trust Bank’s five-year debentures have a 12.65 percent coupon rate paid every six months or 13 percent interest paid annually.

People’s Leasing debentures comprise tenures of four and five years. The four year debenture carries a coupon rate of 12.40 percent and the five year debenture 12.80 percent.

Sri Lanka’s Telecom’s 10-year debentures have a 12.75 percent coupon rate.

Four year risk-free government bonds closed 9.60/65 in two-way quotes Thursday, a five year bond was quoted at 9.75/85. Ten-year bonds were quoted at 10.10/15, according to Wealth Trust Securities.

Nations Trust last traded at 80.10 rupees, Sri Lanka Telecom at 28.70 rupees and People’s Leasing at 15.80 rupees. (COLOMBO, 16 April, 2018)





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