Sri Lanka’s First Capital to raise Rs.750mn in debentures
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ECONOMYNEXT – Sri Lanka’s First Capital Treasuries Plc, a Primary Dealer is planning to raise 750 million rupees in a debenture issue.
The debentures will have a maximum tenure of five years with interest payment options payable semi-annually.
The debenture is to be offered on January 27, 2020.
First Capital Treasuries is a primary dealer licensed and appointed by the Central Bank of Sri Lanka to deal exclusively in Government Securities.
It has a capital base of 3 billion rupees and has an ICRA Lanka rating of [SL] A- (Stable).
First Capital Treasuries had last issued 500 million debentures in 2015 carrying interest of 9.50 percent which matures on February 6th, 2020.
Chief Dealer of First Capital Treasuries Plc, Anjelo Simmons said that the debenture issue would be partly used to enhance the capital adequacy and refinance the maturing debentures.
Treasury bonds maturing in 2025 were trading around 9.60/70 percent on Thursday.