Vallibel Finance PLC has launched its inaugural listed debenture issue to raise Rs. 3 billion, marking a significant milestone in its funding strategy. The company will initially issue 20 million rated, subordinated, unsecured, redeemable debentures priced at Rs. 100 each, with the option to issue an additional 10 million debentures if the initial tranche is oversubscribed.
The debenture options include:
- Type A: Five-year tenor with a fixed coupon rate of 12.99% per annum (AER 13.37%), payable semi-annually.
- Type B: Five-year tenor with a fixed coupon rate of 13.37% per annum (AER 13.37%), payable annually.
Subscription for the issue is now open, with the official launch set for November 20, 2024. First Capital Advisory Services Ltd. is managing the issue.
In the first half of FY25, Vallibel Finance reported a 24.5% increase in consolidated net profit, reaching Rs. 1.1 billion. Net operating revenue rose by 22.7% to Rs. 4.96 billion, with pre-tax profit up 23% at Rs. 1.9 billion.