Sri Lanka’s People’s Leasing to sell Rs8.0bn in bonds

ECONOMYNEXT – Sri Lanka’s People’s Leasing and Finance, the country’s largest non-bank lender, plans to sell up to Rs8.0 billion of senior debt, which have been given an expected ‘AA(lka)’ rating, Fitch Ratings said.

The debt will be for three, four and five years, and will have fixed rates.

The funds will be used for working capital and to reduce maturity mismatches, Fitch said.

People’s Leasing accounted for 9.9 percent of assets of People’s Bank group and 26.6 percent of its consolidated profits, Fitch said.

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