Softlogic Finance debenture oversubscribed at Rs 500 mln
View(s):Softlogic Finance PLC said on Thursday that its Debenture Issue had been oversubscribed.
Hoping to raise Rs. 250 million, the issue was oversubscribed and further debentures amounting to Rs.250 million were issued, taking the total transaction to Rs. 500 million.
The issue opened on August 22 and closed on the following day with keen interest seen in the Senior, Listed, Rated, Unsecured, Redeemable, Three (03) Year Debentures offered by Softlogic Finance.
“The total subscription received was Rs. 527 million and drew considerable interest from a number of diverse investors that include commercial banks, development banks, institutional investors, private investors and retail investors.
The trustee to the transaction was Deutsche Bank AG and lawyers to the issue were Nithya Partners,” the company said.
Proceeds of the Debenture issue will be utilized to fund the lending activities of the company that have been set out in the annual business plan and will combine with deposit mobilization and other funding initiatives to bring about an optimal mix in terms of price and tenor.
comments powered by Disqus