Hayleys to raise Rs. 4 b via listed debentures

Diversified blue chip Hayleys Plc will be raising Rs. 4 billion via the issuance of a listed debenture, the subscriptions for which are open from today.

It will offer 30 million listed, rated, unsecured, senior, redeemable five-year debentures of Rs. 100 each with an option to issue a further 10 million debentures at the discretion of the company in the event of an oversubscription of the original amount.  The joint mangers to the issue are Capital Alliance Partners Ltd, NDB Investment Bank Ltd. and People’s Bank’s Investment Banking Unit.

The issue officially opens on 24 July but is available for subscription from today.