Fitch Ratings has assigned Singer Finance (Lanka) PLC’s (SFL, A+(lka)/Stable) proposed Sri Lanka rupee-denominated subordinated unsecured debentures an expected national long-term rating of ‘A-(lka)(EXP)’.
The proposed debentures are to total up to LKR2 billion with a maturity of five years and will carry fixed and floating rate coupons. SFL plans to use the proceeds to strengthen its Tier II capital, support its loan-book expansion and for working capital requirements.
The debentures are to be listed on the Colombo Stock Exchange.
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