Hayleys PLC secures CSE approval for Rs. 7 bn debenture issue

Hayleys PLC, a leading diversified conglomerate, has received in-principle approval from the Colombo Stock Exchange (CSE) to list its rated unsecured senior redeemable five-year (2025/2030) debentures, aiming to raise up to Rs. 7 billion. The announcement, outlined in Circular No. 04-04-2025, marks one of the largest corporate debt offerings slated for 2025.  

The initial tranche comprises 50 million debentures priced at Rs. 100 each, targeting Rs.5 billion. Hayleys retains the discretion to upsize the issuance by an additional 20 million debentures (Rs. 2 billion) in case of oversubscription, capping the total offering at 70 million debentures (Rs. 7 billion). The funds raised are expected to bolster the company’s capital structure, though specific utilisation details were not disclosed.  

Subscription for the debt securities will open on 5 May 2025. The debentures, rated and senior in priority, offer five-year tenure with redemption scheduled between 2025 and 2030.  Commercial Bank of Ceylon PLC and Hayleys Group Services (Private) Limited have been appointed as Joint Managers to oversee the issuance.