Aitken Spence Hotel Holdings plans Rs. 5 bn debenture issue

Aitken Spence Hotel Holdings PLC has announced plans to raise up to Rs. 5 billion through a listed, rated, unsecured senior redeemable debenture issue, subject to regulatory approvals.

The Board of Directors has approved an initial issue of up to 30 million debentures at a par value of Rs. 100 each, aiming to raise up to Rs. 3 billion. In the event of an oversubscription, the company retains the option to issue a further 20 million debentures, raising an additional Rs. 2 billion and bringing the total potential value of the issue to Rs. 5 billion.

The debentures will be listed on the Colombo Stock Exchange (CSE), with the company confirming that an application will be submitted to the CSE seeking approval for the listing.

Details relating to the structure of the issuance, including the tenure or maturity period, coupon frequency, interest rates, and issue opening dates, will be determined at a later stage based on prevailing market conditions and communicated to the market in due course.

The announcement has been made in compliance with the disclosure requirements of the Colombo Stock Exchange.

Source: HiruNews