Commercial Leasing Co. Ltd (CLC), a leasing company in Sri Lanka, announced the successful private offering of a secured redeemable debenture issue of Rs. 325 million. The debentures are secured by specific finance lease contracts of CLC, and the principal and interest payments are unconditionally and irrevocably guaranteed.

Asian Finance recently successfully concluded the private placement of Hire Purchase Receivables backed by Trust Certificates of Rs. 135 million. According to Investec Capital (Pvt.) Ltd, the Arranger/Lead Manager to the placement, this placement ranks to be the first ever true sale of hire purchase receivable securitization in Sri Lanka.

SF experienced relatively high portfolio growth supported by its branch expansion programme. The portfolio grew by 62% during FYE 2004 on the back of the high 93% growth recorded in FYE 2003. The growth momentum has been sustained during the first nine months of FYE 2005, with the portfolio expanding by 33%.