Siyapatha Finance PLC, a subsidiary of Sampath Bank PLC will raise Rs. 4 billion through its debenture issue.
The Board of Directors of Siyapatha Finance approved the decision to raise funds through the issuance of listed, rated, senior, unsecured, redeemable debentures on March 6, 2024.
The initial offering stands at Rs. 2 billion, with an option to extend by an additional Rs. 2 billion, bringing the total potential issuance to Rs. 4 billion. With a five-year tenure, these debentures are poised to offer investors a fixed interest of 13.20% p.a payable annually (AER 13.20%). .
The proceeds from this issuance are apportioned for the expansion of Siyapatha Finance’s lending portfolio, highlighting the company’s commitment to fostering sustainable growth and strategic investment opportunities in alignment with its long-term vision.
