Siyapatha Finance PLC announced the remarkable success of its recent debenture issuance, exceeding all expectations with a significant oversubscription.
The initial public offering commenced on May 28th and closed on the same day due to overwhelming investor interest. All tranches, including the initial Rs. 2 billion and subsequent tranches of Rs. 1 billion each, were filled rapidly. This response reflects strong investor confidence in Siyapatha Finance’s financial stability and growth potential. The company received applications totaling over Rs. 4 billion, highlighting the high demand for Siyapatha’s offerings.
“This exceptional response underscores our dedication to creating value for stakeholders and fostering sustainable growth,” said Managing Director Ananda Seneviratne. “We are incredibly grateful for the enthusiastic reception of our debenture issuance, which demonstrates the trust and confidence investors have placed in Siyapatha Finance PLC.”
The proceeds from this issuance of debentures will be used to fund Siyapatha Finance’s planned lending portfolio. These listed, rated, senior, unsecured debentures will have a face value of Rs. 100 each, a five-year tenure, and a fixed interest rate of 13.20% per annum (AER 13.20%). They will be officially listed on the Colombo Stock Exchange following the allotment process.
The entire debenture issuance process was meticulously managed by First Capital Ltd., with the support of esteemed partners. These partners include Hatton National Bank PLC (Trustee), Sampath Bank PLC (Banker), SSP Corporate Services Ltd. (Registrar), Nithya Partners (Legal Counsel), Ernst & Young (Reporting Accountants), and KPMG (Company Auditors). Fitch Ratings Lanka provided credit rating services, further solidifying Siyapatha Finance’s position as a trusted and financially sound entity within Sri Lanka’s financial sector.