Diversified conglomerate Hayleys PLC has revealed its intention to raise up to Rs. 7 billion through a listed debenture issue, pending regulatory approvals.

In a statement to the Colombo Stock Exchange, the company announced that its Board of Directors has resolved to issue 50 million listed, rated, unsecured, senior, redeemable debentures. Additionally, there is an option to issue up to a further 20 million debentures at the company’s discretion.

This initiative could result in a total issuance of up to 70 million debentures, each valued at Rs. 100, allowing the company to potentially raise the full Rs. 7 billion if the entire option is exercised.

Hayleys indicated that the planned debentures are expected to be listed on the Colombo Stock Exchange. However, specifics regarding the tenure, interest rates, and other significant terms will be disclosed at a later date.

The company emphasized that the issuance is contingent upon obtaining the requisite regulatory approvals.