Saturday, 20 July 2019 09:23

Bogawantalawa Tea Estates conducts a debut debenture issue

The listed Debenture Issue of Bogawantalawa Tea Estates plc was not only its debut in the Colombo Stock Exchange but also the recording of a unique fund raiser, especially suited for the plantation sector, company management claimed.

The Issue featured 3 types of debenture options, each with attractive interest rates built-in with varied features offered.

These features include a discount on the investment value at the onset, call options involving part cash considerations.

IT ha attracted much interest to the Issue, mirroring the vigor of the pre-taxation era of the listed Debenture Market.

The existence of the sinking fund and the cornerstone investor subscription, which underwrites more than 50% of Issue, served to further strengthen the Issue.

Areva Investments (Pvt) Ltd, a catalyst in the field of corporate finance and investment banking services, pioneered and managed this innovative debenture issue.The quick oversubscription of the Issue is recognized as a positive reflection on the level of confidence placed by the market in Bogawantalawa Tea Estates PLC and thus the Board of Directors of the Company wishes to express their sincere gratitude to all those who supported the Issue

(LI)

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