People’s Leasing scales down proposed debenture issue to Rs. 10 b

Monday, 11 May 2026 00:04 - - {{hitsCtrl.values.hits}}

Initial plan was to raise up to Rs. 15 b through listed subordinated debentures

People’s Leasing & Finance PLC has revised its proposed listed debenture issue, reducing the maximum amount to be raised to Rs. 10 billion from the initially planned Rs. 15 billion.

The company said the Board of Directors had initially approved the issuance of up to 150 million listed, rated, unsecured, subordinated, and redeemable debentures with a tenure of five years at a total value of Rs. 15 billion.

The proposed issuance had received approval from the Central Bank of Sri Lanka (CBSL) by letter dated 27 November 2025 under Finance Companies (Debt Instrument) Direction No. 3 of 2013, subject to required regulatory clearances.

However, following an internal assessment, the Board has now decided to proceed with a reduced issue size of up to Rs. 10 billion through listed, rated, unsecured, subordinated, and redeemable debentures issued at a par value of Rs. 100 each.

The company said the revised amount would represent the maximum value to be raised through the debenture issue, subject to obtaining all required regulatory approvals.

People’s Leasing also said it intends to list the debentures on the Colombo Stock Exchange (CSE) upon receipt of the relevant approvals.