Diversified conglomerate Hayleys PLC has announced plans to raise up to Rs. 7 billion through a listed debenture issue, subject to regulatory approvals.

In a disclosure to the Colombo Stock Exchange, the company said its Board of Directors has resolved to issue 50 million listed, rated, unsecured, senior, redeemable debentures, with an option to issue up to a further 20 million at its discretion.

Accordingly, the total issue could amount to a maximum of 70 million debentures at a par value of Rs. 100 each, enabling the company to raise up to Rs. 7 billion if the full option is exercised.

Hayleys stated that the proposed debentures are expected to be quoted on the Colombo Stock Exchange, while details relating to the tenure, interest rates, and other key terms will be announced in due course.

The company noted that the issue remains subject to obtaining the necessary regulatory clearances.