CSE green lights Rs. 7 b Hayleys debenture issue

Friday, 13 March 2026 00:00 - - {{hitsCtrl.values.hits}}

The Colombo Stock Exchange (CSE) has granted in-principle approval for the listing of debentures issued by Hayleys PLC, enabling the diversified conglomerate to raise up to Rs. 7 billion through the debt market.

According to a circular issued by the CSE, the company plans an initial issue of 50 million listed, rated, unsecured, senior, redeemable debentures with a par value of Rs. 100 each to raise Rs. 5 billion.

Hayleys also retains the option to issue a further 20 million debentures in the event of oversubscription, which would increase the total issue size to 70 million debentures and raise up to Rs. 7 billion.

The debentures will be offered under three categories. A five-year fixed-rate debenture will carry an interest rate of 10.6% per annum with an annual effective rate of 10.88%. A second five-year floating-rate debenture will be priced at the one-year Treasury Bill rate plus 2%, subject to a floor of 9.5% and a cap of 11.5%. A third category will consist of a seven-year fixed-rate debenture carrying an interest rate of 11.15% with an annual effective rate of 11.46%. Interest on all debentures will be paid on a semi-annual basis.

The subscription list for the issue is scheduled to open on 17 March. Commercial Bank of Ceylon PLC will act as the Joint Manager to the issue, while SSP Corporate Services Ltd., has been appointed as the Registrar.

Soft copies of the prospectus were made available to trading participants on 11 March, according to the CSE

circular.