Siyapatha Finance successfully raises Rs.1.5bn in debt

Siyapatha Finance PLC, a subsidiary of Sampath Bank PLC, has successfully raised Rs.1.5 billion through a listed debenture issue.

The rated, unsecured subordinated, five-year debenture issue had an initial tranche of Rs.1 billion initially with an option to raise up to further Rs.500 million, in the event the initial tranche was oversubscribed.

As the debenture issue was oversubscribed, Siyapatha Finance said the issued was closed on August 1 as per the prospectus.

The company said the basis of debenture allotment of would be notified to the Colombo Stock Exchange later.