First Capital Treasuries’ debentures snapped up on opening day

The Rs.750 million debenture issue by the primary dealer, First Capital Treasuries PLC, was oversubscribed yesterday.

The issue officially opened yesterday and the registrar to the issue, S.S.P. Corporate Services, in the afternoon said the issue would be closed at 4:30 p.m., as the applications had been received for over Rs.750 million.

First Capital Treasuries issued 7.5 million listed, rated, subordinated, unsecured, redeemable debentures, at a par value of Rs.100 each. 

The debentures will mature in five years and the interest payment will be made semi-annually. 

The Colombo Stock Exchange (CSE) has approved in principle an application for listing of the debt securities of the company.

The joint managers to the issue were First Capital Limited and People’s Bank Investment Banking Unit.

First Capital Treasuries raised Rs.500 million through a five-year listed debt in February 2015.