Hayleys Rs.2bn debt issue snapped up

Diversified Hayleys PLC said its Rs.2 billion debenture issue opened yesterday was oversubscribed. “Therefore the issue closed at 4.30 p.m. today (May 25, 2016) as per the prospectus,” the company said. Hayleys issued 20 million senior, unsecured, listed, redeemable, rated debentures at an issue price of Rs.100 each. The company has received approval in principle to list the debt securities on the Colombo Stock Exchange. Capital Alliance Partners and People’s Bank Investment Banking Unit were the Joint Mangers of the issue while PW Corporate Secretarial Limited functioned as the Registrars to the issue.