Siyapatha Finance to raise Rs.4bn via debentures

Siyapatha Finance PLC, the finance and leasing arm of Sampath Bank PLC, has announced plans to raise Rs.4 billion through the issuance of listed, rated, senior, unsecured and redeemable debentures.
As per a filing to the Colombo Stock Exchange, Siyapatha Finance plans to offer the proposed debentures at an interest rate below the regulatory ceiling rate and for a maturity period of five years.
The proposed debenture issue is subject to obtaining all related approvals from the relevant regulatory bodies
As of December 31, last year, Siyapatha Finance had Rs.1.62 billion worth of debentures maturing within a one-year period and further Rs.1.5 billion worth of debentures maturing beyond a one-year period.