Hayleys PLC to raise up to Rs.7bn via debenture issue

Hayleys PLC has announced plans to raise up to Rs. 7 billion through the issuance of listed, rated, unsecured, senior, redeemable debentures, according to a company disclosure.

The Board of Directors has approved the issue of 50 million debentures, with the option to issue an additional 20 million at its discretion, bringing the maximum number to 70 million. Each debenture will be priced at Rs.100. The offering will be subject to regulatory approvals and intends to list the debentures on the Colombo Stock Exchange (CSE).

Specific details on tenure, interest rates, and other terms of the debenture will be announced in due course.