Abans Financial Services Ltd (AFSL) said it was planning a listed debt issue to raise Rs. 500 million in a range of tenures and rates of interest.
In a stock exchange filing Tuesday, AFSL said its board of directors had decided to issue listed unsecured debentures at Rs. 100 each in six different classes of instruments, varying in tenure (from 3 to 5 years) with interest rates from 11.39 percent and 13 percent, payable monthly or yearly.
"In the even all class of instruments are oversubscribed, the company may increase the maximum issue up to a total of Rs. 1 billion," the company said.
AFSL is seeking approval to list the debentures on the second board of the Colombo Stock Exchange.
source - www.island.lk
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