Hayleys PLC, one of Sri Lanka’s largest conglomerates with operations spanning export manufacturing and retail, has secured regulatory approval to raise up to Rs7 billion through a listed debenture offering.
According to a disclosure by the Colombo Stock Exchange, the company will issue 50 million unsecured, senior, redeemable debentures at a face value of Rs100 each, aiming to initially raise Rs5 billion. Hayleys has also reserved the option to issue an additional 20 million debentures, potentially increasing the total to Rs7 billion.
These five-year debentures will open for public subscription in May 2025.
Commercial Bank of Ceylon PLC and Hayleys Group Services (Pvt) Ltd have been appointed as joint managers to the issue.