Sanasa Life to Raise Rs. 500 Mn via Tier II Debenture Issue 📈

• Overall Figures: Sanasa Life Insurance PLC Board has approved the issuance of 5 million unlisted, rated, subordinated debentures at Rs. 100 each, aiming to raise Rs. 500 Mn. • Instrument Details: The five-year instrument offers an annual interest rate of 12.50%. It is a Tier II capital-boosting measure designed to strengthen the company’s financial position. • Lock-in Clause: Payments of interest and principal are strictly subject to maintaining the Capital Adequacy Ratio (CAR) above minimum regulatory solvency margins. If the CAR falls below limits, payments will be deferred and accumulated. • Default & Ratings: Default interest on principal is set at AWPLR + 0.5%. The issue will be rated by Lanka Rating Agency Ltd. • National Context: This capital raising comes while the company's long-term insurance license remains suspended by the IRCSL until 30 January 2026. Strengthening the capital base is a critical step for insurance providers to ensure policyholder protection and regulatory compliance. • Shareholding: As of late 2025, Senthilverl Holdings (19.10%) and Sanasa Federation (10.50%) remain the primary shareholders, with a net asset value per share of Rs. 22.61 recorded in Sept 2025.