Aitken Spence Hotel Holdings plans to raise up to Rs. 5 billion through a debenture issue, the company said in a market filing, Hiru News reported.
The initial offer is 30 million listed, rated, unsecured, senior, redeemable debentures at Rs. 100 each, raising Rs. 3 billion. A further 20 million debentures — another Rs. 2 billion — will be issued if the initial offering is oversubscribed.
Subscriptions open on 15 September.
The four options
The issue carries four fixed-rate options across two tenors:
| Type | Tenor | Rate | Interest paid |
|---|---|---|---|
| A | 5 years (2026–2031) | 13.00% | Annually |
| B | 5 years (2026–2031) | 12.60% | Semi-annually |
| C | 7 years (2026–2033) | 13.15% | Annually |
| D | 7 years (2026–2033) | 12.74% | Semi-annually |
The semi-annual options carry lower headline coupons because interest is paid twice a year rather than once — on a compounded basis the B and D options work out close to their annual counterparts, at roughly 13.00% and 13.14% respectively.
The Colombo Stock Exchange has granted in-principle approval to list the instruments.
Aitken Spence Hotel Holdings shares closed down 1.38% at Rs. 85.80 on Friday, a session in which the All Share Price Index rose 25 points to end a three-day losing streak.
Not reported
The filing as reported does not say what the proceeds will be used for — refinancing, capital expenditure or acquisitions — or name the rating agency and the rating assigned, despite the instruments being described as rated. It does not name the managers to the issue, give a closing date for subscriptions, or state the company’s existing debt position. No comment from the company beyond the filing is quoted.
This account rests on a single newsroom’s report of the market filing; no other verified outlet available at the time of writing had carried it.
