Siyapatha Finance PLC to issue Rs.4 bln debentures

Siyapatha Finance PLC, a subsidiary of Sampath Bank PLC and a key stakeholder in Sri Lanka's non-bank financial sector, is to raise Rs. 4 billion through its debenture issue.

The Board of Directors of Siyapatha Finance PLC recently approved the decision to raise funds through the issuance of listed, rated, senior, unsecured, redeemable debentures. 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 offer investors a fixed interest of 13.20 per cent p.a payable annually (AER13.20 per cent), the company said in a media release.

The proceeds from this issuance will be used for the expansion of Siyapatha Financ PLC's lending portfolio, highlighting the company's commitment to fostering sustainable growthandstrategic 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,” said Ananda Seneviratne, Managing Director of Siyapatha Finance PLC.

Established in 2005 and regulated by the Central Bank of Sri Lanka, Siyapatha Finance PLC has secured a reputation as a premier finance company, renowned for its commitment to excellence and customer-centric financial solutions, the statement said. It has a staff of over 900 and has expanded its footprint to 48 branches across key urban centres and towns.