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SLT+to+raise+Rs.+7bn+via+debentures
Tuesday, 02 January 2018 - 13:19
SLT to raise Rs. 7bn via debentures
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Fitch Ratings has assigned Sri Lanka Telecom PLC's proposed senior unsecured debenture issue of up to Rs. 7 billion an expected National Long-Term Rating of 'AAA (lka) (EXP)'.
 
The debentures will have a tenor of 10 years and carry fixed coupons. The debentures will be listed on the Colombo Stock Exchange, with the proceeds to be used to refinance its short-term debt and fund SLT's capital expenditure plans.
 
SLT's senior unsecured debt is rated at the same level as its National Long-Term Rating, as the debentures rank equally with other senior unsecured obligations. The final rating is subject to the receipt of final documents conforming to information already received.
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