Alliance Finance plans Rs.1bn bond issue with focus on women-led enterprises
Photo: Daily MirrorAI summary · 1 min read
1 min readFrom 2 outlets- The planned issue is for up to 10 million listed, rated, unsecured, redeemable bonds at Rs100 each, according to EconomyNext.
- The bonds would mature in three years, with principal repaid in a single payment at maturity, EconomyNext reports.
- The intended lending categories include MSME value-chain and climate financing, and microfinance, according to EconomyNext.
- The company says the issue requires regulatory approvals, including from the Central Bank of Sri Lanka and the Colombo Stock Exchange, EconomyNext reports.
Daily Mirror and EconomyNext report that Alliance Finance Company PLC plans to raise up to Rs1 billion through a three-year bond issue. EconomyNext says the company disclosed the plan in a stock exchange filing and describes the bonds as senior, gender-responsive and orange-labeled.
EconomyNext reports that the proposed issuance comprises up to 10 million listed, rated, unsecured, redeemable bonds, each with a par value of Rs100. It says principal would be repaid in one payment when the three-year term ends.
Daily Mirror and EconomyNext say the proceeds are intended for eligible lending, with earmarked targets for women-led enterprises and female beneficiaries. EconomyNext identifies the eligible social-project categories as financing for micro, small and medium enterprise value chains, climate-related MSME financing and microfinance.
EconomyNext reports that the issuance is conditional on necessary regulatory clearances, including approval from the rating agency, the Central Bank of Sri Lanka and the Colombo Stock Exchange, as well as other conditions acceptable to the company. The issue is expected to proceed after the required clearances are finalized, according to EconomyNext.
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