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Ceylinco Developers launch Rs. 100 million debenture issue
Ceylinco Developers Limited (CDL), pioneers of the Millennium City
Township development projects, launched a Rs. 100 million debenture issue to
fund its growing business. It will issue one million Unquoted, Unsecured,
Subordinated three year debentures of Rs. 100 each with an option to redeem
it after one or two years.
There are four types of debentures 14.5% per annum payable annually (with
an option to redeem after one year), 15.0% per annum payable annually (with
an option to redeem after two years), 16.0% per annum payable annually
redeemable after three years and 13.6% per annum payable monthly (with an
option to redeem after one year) The CDL Debentures give investors a
guaranteed return on investment which is much higher when compared to those
of Fixed deposits.
Treasury Bills and Certificates of Deposits with the added advantage in
that they can also be offered as security when obtaining a loan.
In addition to total assets worth Rs. 1,282 million, CDL also reordered a
profit after tax of Rs. 70 million in 2004/2005 a record high. Earnings per
share for 2004/2005 were Rs. 9.15 while net assets per share amounted to Rs.
39.46. These figures rank among the highest in the industry and have
contributed immensely to the stability and success of the company.
Formed in 1998 the primary objective of CDL was entering the housing
development market. Ceylinco Securities and Financial Services (CSFSL)
incorporated a public liability company, namely Ceylinco Developers Limited
(CDL), with the affiliation of National Development Bank and DFCC Bank.
Millennium City was undertaken in Athurugiriya in November 1998. |
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