Fitch Ratings has assigned Pan Asia Banking Corporation (PABC) issue of senior unsecured debentures of up to Rs 4.0b a final National Long-Term rating of ‘BBB(lka)’
The final rating is the same as the expected rating assigned on June 17, 2015, and follows the receipt of documents conforming to information already received.
The debentures will have maturities of three and four years with a combination of fixed-rate and floating-rate coupons. PABC expects to use the proceeds to reduce structural maturity mismatches, diversify the funding mix and secure medium-term funding.
The debentures are to be listed on the Colombo Stock Exchange.
www.dailynews.lk
The final rating is the same as the expected rating assigned on June 17, 2015, and follows the receipt of documents conforming to information already received.
The debentures will have maturities of three and four years with a combination of fixed-rate and floating-rate coupons. PABC expects to use the proceeds to reduce structural maturity mismatches, diversify the funding mix and secure medium-term funding.
The debentures are to be listed on the Colombo Stock Exchange.
www.dailynews.lk
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