Sri Lanka’s Commercial Credit Rs1Bn debenture oversubscribed
COLOMBO (EconomyNext) – Sri Lanka’s Commercial Credit and Finance said its 10 billion rupees debenture with annual equivalent rate of 10.92 percent was oversubscribed on the opening day Thursday.
The firm issued 10 million rated, subordinated, guaranteed, redeemable five-year debentures at a par value of 100 rupees each.
Interest on the debentures will be paid at a fixed rate of 10.50 percent per annum on the principal sum quarterly each year.
The debentures, rated ‘AA’ by Lanka Rating Agency, will be listed on the Colombo Stock Exchange.