Abans debenture issue oversubscribed

The first debenture issue of Abans Limited was oversubscribed on its opening day, December 13. The debenture issue attracted a large number of institutional investors and private investors. The instrument rated A-(lka) by Fitch Ratings Lanka will be listed on the main board of the Colombo Stock Exchange.

This debenture issue marked the first time in its 45-year history that the company issued securities to the public. The company issued senior, listed, unsecured debentures up to Rs 2 billion. The issue saw strong demand from individual and institutional investors. York Street Partners (Pvt) Limited (YSP) supported the company throughout the process as lead manager to the issue. Capital Alliance Partners Limited acted as the co-manager. The YSP leadership team said, "We are here to support Sri Lankan companies access new sources of capital and bringing Abans to the public debt market was a great example of that."