Sri Lanka, Jan. 15 -- Sanasa Life Insurance Company PLC has announced plans to raise Rs.500 million through a debenture issue, a strategic move to bolster capital, while the company remains under a regulatory suspension imposed by the Insurance Regulatory Commission of Sri Lanka (IRCSL).
According to a filing with the Colombo Stock Exchange dated January 12, 2026, the board of directors resolved on January 8 to issue up to five million rated, subordinated, unsecured, redeemable debentures, at a par value of Rs.100 each.
The five-year debt instrument carries a fixed interest rate of 12.50 percent per annum, with interest payments to be made annually.
The timing of the issue is critical, as it follows stern regulatory action taken against...