Merchant Bank of Sri Lanka is tapping the local debt market to raise up to Rs. 200 mn to fuel its expansion programme.
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Arnfour-year unsecured debenture, which comes with a combination of fixed andrnfloating interest rates starting from 10 percent, will be on offered to thernpublic shortly.
rnrn THE ISSUErnFixedrn Interest Rate: rn Floating Interest Rate rnInterestrn payment quarterly at 10% rn Interest payment quarterly rnInterestrn payment bi-annually at 10.12% Interestrn payment bi-annually rnInterestrn payment annually at 10.38% rn Interest payment annually rn*rn (Floating rate is linked to the one-year treasury bill rate. The issuern comes with a floor of 8.5% and a cap of 12.%). | rn
MBSLrnCEO Sunil Wijesinghe says the money will be used to grow its Rs. 1.5 bn leasingrnportfolio and expand its branch network.
rnldblquote Wernhave come out of the woods and now look forward for a higher burst of growthrnnext-year, dblquote Wijesinghe told Lanka Business Online.
rnThernissue will not carry a credit rating and will not be listed on the Colombo StockrnExchange. The date of the issue was not annouced.
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-LBO Newsdesk: LBOEmail@vanguardlanka.comrn
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