Sri Lanka Telecom PLC (SLT), a blue-chip company and a dominant player in the Sri Lankan Telecom and Information Technology Enabled Services (ITES) space, announced today that the directors of the company have resolved to issue LKR 5.0 billion listed debentures with a green shoe option for a further LKR 2.0 billion, subject to regulatory approval.

SLT is a listed company on the Colombo Stock Exchange (CSE) and has positioned itself as the preferred digital lifestyle provider (DLP) in Sri Lanka, providing a wider range of services such as voice, data, internet, global connectivity, television, education and other related services to the nation. Having maintained a fair growth rate despite the competitive and challenging market environment, the group reported a turnover of Rs. 74 billion during the year 2016 while owning Rs.143 billion total assets by the end of same year.

The company expects to invest proceeds of the debenture in its service expansions in the areas such as IPTV, FTTH, data centers, global connectivity and to improve the maturity profile of its long term debt.