LKR 7 Billion Debenture Issue by Hayleys PLC

We are pleased to have advised Hayleys PLC on the issuance of Listed, Rated, Unsecured, Senior, Redeemable Debentures to raise a total sum of LKR 5 Billion, with an option to raise a further LKR 2 Billion at the discretion of the company in the event of an oversubscription. Commercial Bank acting as joint Managers and Bankers to the Issue.

The issuance comprises three types of Debentures, namely, Type A with a tenure of 5 years and semi-annual interest payment at a fixed rate, Type B with a tenue of 5 years and semi-annual interest payment at a floating rate and Type C with a tenue of 7 years and semi annual interest payment at a fixed rate. The Debentures are assigned an instrument rating of AAA (lka) by Fitch Ratings Lanka Limited.

Our team comprised Buwaneka Basnayake, Partner and Head of Capital Markets and Tarinda Ratwatte, Associate.

More Details: www.ft.lk.