Hayleys first-ever debenture issue of Rs. 2 b up for grabs from Friday

Diversified blue chip Hayleys Plc’s first-ever listed debenture issue worth Rs. 2 billion is up for grabs from Friday for the investing public.

The company is issuing 1.5 million rated, unsecured, redeemable debentures at Rs. 1,000 each with an option to issue a further 500,000 debentures at the same price in the event of an oversubscription of the original amount.

The issue officially opens on 2 July but investors can subscribe to it from 21 June onwards.

The CSE said it has approved in principle an application by Hayleys to list the debentures. Financial advisors and managers to the issue is NDB Investment Bank Ltd., whilst PW Corporate Secretarial Ltd. is the registrars to the issue.

Hayleys’ first-ever debenture issue is coming hot on the heels of the Government offering incentives to boost the listed debt market and follows a spate of recent successful issues such as from HNB and Lion Brewery.