First Capital’s Rs. 2 bn debenture issue snapped up on opening day | Daily News

First Capital’s Rs. 2 bn debenture issue snapped up on opening day

Dilshan Wirasekara
Dilshan Wirasekara

The Listed, Rated, Unsecured, Senior, Redeemable Debenture Issue of First Capital Holdings PLC with a tenure of 5 years was successfully oversubscribed on the opening day 1st February 2021. First Capital Holdings PLC has received a substantial number of applications, decided to exercise the option of increasing the issue up to LKR 2 billion.

Commenting on the Issuance, First Capital Holdings PLC, Director/Chief Executive Officer, Dilshan Wirasekara said the oversubscription of the debenture issuance reflected the confidence that the public and the investor community have placed on us, given First Capital’s financial stability, strong performance, robust governance framework and trust proven over three decades.

Offering investors with a reliable investment option at a critical juncture in the economic revitalisation of the country, the issuance provides optimum returns amidst a very low-interest-rate environment. We are pleased that our Corporate Finance Division was able to jointly manage this issue with the People’s Bank Investment Banking unit. First Capital’s debt structuring business alone has reported impressive growth in 2020 and continues its momentum this year, having helped corporates raise LKR 42 billion.