Fitch rates HNB Finance subordinated debt BBB+(lka)

Fitch Ratings said it assigned HNB Finance plc’s (A(lka)/stable) proposed Sri Lanka rupee-denominated subordinated unsecured debentures an expected national long-term rating of BBB+(lka)(EXP).

The proposed issuance of LKR 2 billion is to mature in five years and carry fixed coupons.

The company plans to use the proceeds to strengthen its Tier 2 capital base and support its loan-book expansion. The proposed debentures are to be listed on the Colombo Stock Exchange.

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