NDB Investment Bank Limited (NDBIB) successfully concluded the maiden unlisted debenture issue of Regional Development Bank (RDB).
The Issue of 20 million debentures (Rs. 2,000 million) was fully subscribed as there was a high demand for the issue, from Institutional Investors.
RDB issued two types of Rated Unsecured Subordinated Redeemable Debentureswith fixed interest rates payable annually andsemi-annually with a tenor of five (5) years. The issuer and the debentures are rated “[SL] A-with a stable outlook” by ICRA Lanka Limited.
NDBIB Chief Operating Officer Kaushini Laksumanage said they are proud of the trust RDB has placed in NDBIB to act as the Financial Advisors and Managers to their Debenture Issue. “We continuously strive to add value to our clients through excellence and innovation by offering bespoke financial solutions.”
The Company proposes to utilise the entire proceeds of the debenture issue to finance the rapid expansion of its lending portfolio. The lending portfolio of RDB increased at a CAGR of 17% over the period 2011-2015 and stood at Rs. 87.9 Billion as at the end of the FY 2015.
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