Softlogic Finance to raise Rs 1.4 b with GuarantCo
Softlogic Finance PLC announced that it had signed an agreement with GuarantCo, who will provide a guarantee that will enhance the issuance of Softlogic Finance Debentures in an amount of Rupees 1.4 Billion. The Softlogic Finance Debenture issuance that will carry the strength of GuarantCo is expected to be rated AAA and will probably be the first Triple A Debt Issuance in Sri Lanka.
The transaction will be viewed by many as a groundbreaking event, not only as a result of the AAA rating given to the issue, but also due to it paving way towards more foreign participation in providing alternative solutions to developing the debt capital market in the country.
In order to provide local market participants with more information regarding the deal and other Debt Market initiatives, a half day seminar titled "Financing Sri Lanka’s Development" –an Investor Forum on Debt Capital Alternatives for the SME Sector, has been organized by Softlogic Finance PLC, in collaboration with GuarantCo to be held on the 18th of December (Wednesday) 2013 at The Kingsbury Hotel, Colombo, commencing at 8am.
The programme is designed to educate the attendees on availability of alternatives as well as providing an impetus to the local debt markets, to assist its participants to pursue such alternatives through regulatory frameworks and to substantially increase the development of the SME sector of Sri Lanka. The Keynote address at the event will be delivered by the Governor of the Central Bank of Sri Lanka, Mr. Ajith Nivard Cabraal and the audience will comprise Institutional Investors, Prospective NBFI issuers, Debt Market Intermediaries and Regulators.
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