Siyapatha Finance to issue Rs. 5 b debentures

Siyapatha Finance PLC, a subsidiary of Sampath Bank PLC, is to raise Rs.5 billion through a debenture issue.

The Board of Directors of Siyapatha Finance PLC has approved this decision to raise funds through the issuance of listed, rated, senior, unsecured, redeemable debentures. The initial offering stands at Rs.3 billion with an option to extend by an additional Rs.2 billion (Rs.1 billion each), bringing the total potential issuance to Rs.5 billion. With a five-year tenure, these debentures would offer investors a fixed interest of 11.40 per cent per annum, the company said in a media release.

The proceeds from this issuance will be used for the expansion of Siyapatha Finance 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,” said Ananda Seneviratne, Managing Director of Siyapatha Finance PLC.

With a team of over 1000 professionals, the company has expanded its footprint to encompass 53 branches strategically located across the island.