Fitch Ratings has assigned LB Finance PLC's (LB; A-(lka)/Stable) proposed senior unsecured and subordinated debentures final National Long-Term Ratings of 'A-(lka)' and 'BBB+(lka)' respectively.
The assignment of the final ratings follow the receipt of documents conforming to information already received. The final ratings are the same as the expected rating assigned to the senior unsecured and subordinated debt on September 19, 2017.
The proposed issuance, which will have a tenor of five years and carry fixed coupons, will be listed on the Colombo Stock Exchange.
LB expects to use the proceeds to fund loan book growth, reduce asset and liability maturity mismatches and to improve its Tier II capital base through the subordinated debt.
The assignment of the final ratings follow the receipt of documents conforming to information already received. The final ratings are the same as the expected rating assigned to the senior unsecured and subordinated debt on September 19, 2017.
The proposed issuance, which will have a tenor of five years and carry fixed coupons, will be listed on the Colombo Stock Exchange.
LB expects to use the proceeds to fund loan book growth, reduce asset and liability maturity mismatches and to improve its Tier II capital base through the subordinated debt.
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