‘Siyapatha Finance to issue LKR 4 billion debentures, reinforcing commitment to growth’

Siyapatha Finance PLC, a subsidiary of Sampath Bank PLC and a prominent leader distinguished in Sri Lanka’s non-bank financial sector, announced its decision to raise Rs. 4 billion through its debenture issue.

The Board of Directors of Siyapatha Finance PLC approved the decision to raise funds through the issuance of listed, rated, senior, unsecured, redeemable debentures on 6th March , 2024.

The initial offering stands at Rs. 2 billion, with an option to extend by an additional Rs. 2 billion, bringing the total potential issuance to Rs. 4 billion. With a five-year tenure, these debentures are poised to offer investors at a fixed interest of 13.20% p.a payable annually (AER 13.20%). .

The proceeds from this issuance are apportioned for the expansion of Siyapatha Financ PLC ‘s lending portfolio, highlighting the company’s commitment to fostering sustainable growth and strategic investment opportunities in alignment with its long-term vision.

“As Siyapatha Finance PLC reaffirms its commitment to fostering financial inclusivity and driving economic growth in Sri Lanka, we’re confident that this will enable us to continue providing innovative and sustainable financial solutions to our valued customers,” stated Ananda Seneviratne, Managing Director of Siyapatha Finance PLC.