LOLC’s Rs.10bn debenture issue snapped up on opening day

LOLC Holdings PLC successfully raised Rs.10 billion via a listed debenture issue, of which the subscription list officially opened yesterday.

As a result, the issued was closed at 4.30 p.m. yesterday. 

The company plans to offer 75 million listed, rated, senior, unsecured, redeemable debentures, each priced Rs.100 with an option to issue up to a further 25 million of the said debentures in the event of an oversubscription of the 
initial issue.

NDB Investment Bank (NDBIB) functioned as Managers to the issue, while PW Corproate Secretarial Private Limited acted as Registrars.

Meanwhile, NDBIB and People’s Bank Investment Banking Unit functioned as joint placement agents to the issue.