BRAC Lanka Finance PLC, a member of the Lanka Orix Leasing Company (LOLC) group, has obtained a Rs. 500 million facility from Lanka Orix Factors Ltd. (LOFAC) last week at a fixed rate of 10.5 percent per annum to be used as working capital.
LOLC Corporate Services (Pvt) Ltd., Secetaries for BRAC Lanka, disclosed this arrangement in a Stock Exchange filing last week. The filing said that following the amalgamation of BRAC with Commercial Leasing and Finance (CLC), the liability will be taken over by CLC.
LOFAC, BRAC Lanka and CLC are all companies within the LOLC group.
www.island.lk
LOLC Corporate Services (Pvt) Ltd., Secetaries for BRAC Lanka, disclosed this arrangement in a Stock Exchange filing last week. The filing said that following the amalgamation of BRAC with Commercial Leasing and Finance (CLC), the liability will be taken over by CLC.
LOFAC, BRAC Lanka and CLC are all companies within the LOLC group.
www.island.lk
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