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Fitch: People's Leasing & Finance to issue up to 6B rupees of debentures

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Fitch: People's Leasing & Finance to issue up to 6B rupees of debentures

People's Leasing & Finance Plc plans to issue up to 6 billion Sri Lankan rupees of senior debentures, Fitch Ratings said March 6.

The debentures will have tenors of four and five years and carry fixed coupons. They will be listed on the Colombo Stock Exchange.

The company plans to use the proceeds from the issuance for working capital purposes and to retire some existing debentures.

As of March 6, US$1 was equivalent to 155.08 Sri Lankan rupees.