Sri Lanka, Jan. 28 -- Tess Agro PLC has announced plans to raise Rs. 250 million through a debenture issue coupled with warrants, signalling a strategic move to restructure its balance sheet and fund diversification initiatives.
The company proposes to issue 2.5 million unsecured, redeemable debentures at a par value of Rs. 100 each, offering a fixed interest rate of 6 percent per annum over a five-year tenure.
The issue, which is subject to shareholder and Colombo Stock Exchange approval, includes a significant equity component in the form of 100 million warrants.
Investors will be entitled to 40 warrants for every debenture subscribed. These warrants will be listed on the Colombo Stock Exchange, valid for a period of two years from t...