Brown & Company PLC Goes for First Ever Listed Debenture Issue

Published Date : 30-Mar-2022

Brown & Company PLC has announced a Debenture issue to raise Rs 2 billion, with an option to issue up to a further Rs 3 billion. Each Listed Rated Senior Guaranteed Redeemable Debenture is offered at Rs 100/-. Moreover, LOLC Holdings PLC has provided a Corporate Guarantee to the issue.

 

The Colombo Stock Exchange (CSE) has given the approval for the listing of the Debentures. The issue is open from March 30, 2022. NDB Investment Bank is acting as Managers and Placement Agents to the issue. The funds raised through the Debentures will be utilised to settle the short-term loans of the Company.

 

The Debenture issue carries two types of Debentures; the Type A Debentures carry a coupon interest rate of 15.50% per annum payable annually (AER 15.50%) whereas the Type B Debentures carry a coupon interest rate of 15.42% per annum payable quarterly (AER 16.33%).

 

The total assets of Brown & Company PLC Group amounted to Rs. 259 billion and equity attributable to equity holders amounted to Rs. 46 billion as at December 31, 2021.

 

The minimum investment amount for the Debenture issue is Rs. 10,000/-.

 

For more details, please contact Dilum on 077 608 5749 or Akila on 077 998 1110.


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