Fitch rates HNB Finance’s proposed subordinated debt ‘BBB+ (lka) (EXP)’
Fitch Ratings has assigned HNB Finance PLC’s (HNBF; 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 Rs 2 billion is to mature in five years and carry fixed coupons. The company plans to use the proceeds to strengthen its Tier II capital base and support its loan-book expansion. The proposed debentures are to be listed on the Colombo Stock Exchange.