Softlogic Finance in Rs. 1.4 bln deal with GuarantCo
View(s):Softlogic Finance PLC last week announced a deal with GuarantCo which will provide a guarantee that will enhance the issuance of Softlogic Finance Debentures in an amount of Rs 1.4 billion.
The Softlogic Finance Debenture issuance that will carry the strength of GuarantCo is expected to be rated AAA and will probably be the first Triple A Debt Issuance in Sri Lanka, the finance company said.
“The transaction will be viewed by many as a groundbreaking event, not only as a result of the AAA rating given to the issue, but also due to it paving way towards more foreign participation in providing alternative solutions to developing the debt capital market in the country,” the statement said.
In order to provide local market participants with more information regarding the deal and other Debt Market initiatives, a half day seminar titled “Financing Sri Lanka’s Development” – an Investor Forum on Debt Capital Alternatives for the SME Sector, was organised by Softlogic Finance PLC, in collaboration with GuarantCo in Colombo last week.
Chairman of Softlogic Finance PLC, Ashok Pathirage commenting on the occasion, said “With the NBFI sector now aiming at the One Trillion Rupee mark, we are happy to share our fund mobilisation expertise and contacts with other market participants and expect an extremely productive programme that we hope will ultimately benefit the very important SME segment of Sri Lanka.”