SIYAPATHA FINANCE PLC DEBENTURE ISSUE OVERSUBSCRIBED
Siyapatha Finance PLC, a subsidiary of Sampath Bank PLC and a prominent leader in Sri Lanka’s non-banking financial sector, announces the resounding success of its recent debenture issuance, which received an overwhelming response from investors, meeting and surpassing all expectations.
The highly anticipated initial public offering of Siyapatha Finance PLC’s Subordinated debenture issuance, officially opened for subscription on the 20th March 2026 and closed on the same day , due to the remarkably positive investor sentiment from the market. The initial tranche of Rs. 2,000 million and subsequent tranches of Rs. 1,000 million and Rs. 750 million were oversubscribed in record time, reflecting positive investor sentiment and confidence in Siyapatha Finance PLC’s financial stability and growth prospects. The company received an exceptional number of applications over Rs. 3.75 billion, indicative of the strong demand for Siyapatha Finance PLC’s offerings.
Commenting on the oversubscription of the issue, Mr. Mathisha Hewavitharana, Chief Executive Officer of Siyapatha Finance PLC, stated, “This overwhelming demand reaffirms our commitment to delivering value to our stakeholders and driving sustainable growth over 20 years of trust. We are immensely pleased by the enthusiastic response to our debenture issuance, which emphasizes the trust and confidence that investors place in Siyapatha Finance PLC.”
The proceeds from the issuance of listed, rated, subordinated, unsecured, redeemable debentures valued at Rs. 100 per unit with a five-year tenure, will be directed towards strengthening Tier 2 capital base and support funding the Siyapatha Finance PLC’s budgeted lending portfolio. These debentures, carrying a fixed interest rate of 11.50% per annum (AER 11.50%), will be officially listed on the Colombo Stock Exchange after the allotment. The basis for allotment adhered to the specifications outlined in the prospectus, ensuring fairness and transparency in the distribution of debentures among investors.
People’s Bank Investment Banking Unit spearheaded the management of the debenture issue, with esteemed partners including People’s Bank as Trustee, Sampath Bank PLC as Banker, SSP Corporate Services Private Ltd as Registrar, Nithya Partners as Legal Counsel, KPMG as Reporting Accountants and Company Auditors. Fitch Ratings Lanka Limited provided credit rating services, further validating Siyapatha Finance PLC’s strong financial standing as a trusted name in Sri Lanka’s financial sector.
