Demonstrating strong market confidence, Singer Finance (Lanka) PLC has successfully secured LKR 2 billion through a fully subscribed issuance of subordinated debt Trust Certificates. The transaction was expertly led by HNB Investment Bank and Serendib Frontier Capital, who jointly served as advisors and managers to the transaction, bringing structuring excellence and executional strength to this strategic capital raise.
Crafted through a tailored Trust structure, the offering saw high demand from institutional and high-net-worth investors, resulting in full subscription within an accelerated placement window. This reflected a well-orchestrated process tailored to both issuer needs and investor expectations.
Thushan Amarasuriya, Chief Executive Officer of Singer Finance PLC, stated: “This capital raise marks an important milestone in our journey to strengthen the company’s capital base and enhance our ability to serve a broader spectrum of customers. The overwhelming response from investors reflects trust in Singer Finance’s long-term vision and our sound financial stewardship. I would also like to commend HNB Investment Bank and Serendib Frontier Capital for their exceptional professionalism and executional excellence in managing this transaction seamlessly.”
HNB Investment Bank and Serendib Frontier Capital played instrumental roles in designing and executing the transaction. Their combined market insight, technical precision, and investor alignment enabled the placement to successfully achieve its full predetermined capital raise.
Yaveen Jayasekara, Group Chief Strategy Officer of HNB Investment Bank, commented:
“This transaction reflects the strength of our bespoke financial approach and execution capabilities. We are pleased to have successfully placed the offering to align with both the issuer’s strategic goals and investor expectations. This has reinforced our role as a trusted partner in delivering impactful capital market transactions.”
Kavinda Dasanayake, Chief Executive Officer of Serendib Frontier Capital, added:
“We are proud to have brought our structuring expertise and capital market experience to support Singer Finance in this successful issuance. The high-quality outcome reflects robust investor appetite for well-positioned financial institutions and the effectiveness of collaborative advisory.”
The unlisted, unsecured, and unrated subordinated instrument was designed with a five-year maturity and a minimum subscription threshold of LKR 5 million. While the Certificates themselves were not rated, the strong BBB+ credit rating of Singer Finance by Fitch Ratings enhanced overall investor comfort and positioned the offering as a compelling portfolio addition.
HNB Investment Bank and Serendib Frontier Capital extend their sincere appreciation to all participating investors for their trust and confidence in this offering. Their engagement reflects the continued strength of Sri Lanka’s capital markets and the value of agile, innovative financial partnerships.