Aitken Spence Hotels plans Rs. 5bn debenture issue

Aitken Spence Hotel Holdings plans to raise up to Rs. 5 billion through a debenture issue, the company stated in a market filing.

The firm will make an initial issue of 30 million listed, rated, unsecured, senior, redeemable debentures priced at 100 rupees each to secure Rs. 3 billion.

An additional 20 million debentures will be issued if the initial offering is oversubscribed.

Subscription for the issue opens on September 15.

The offering features four fixed-rate choices across 5-year and 7-year tenors spanning 2026 to 2031 and 2026 to 2033.

Type A offers a 5-year option at a fixed rate of 13.00% annually, while Type B offers 12.60% paid semi-annually.

Type C provides a 7-year option at a fixed rate of 13.15% annually, and Type D offers 12.74% paid semi-annually.

The Colombo Stock Exchange granted in-principle approval to list the debt instruments.

Company shares ended down 1.38% at Rs. 85.80.