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Listed debentures have been made free of withholding tax, triggering a spurt of such issues.
The 4-year debenture pays 16.5 percent a year, with payments every six months.
The 5-year debenture will pay 16.
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75 percent every six months or 17.0 percent with a yearly coupon.
People's Leasing is Sri Lanka's largest non-bank lender.
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Fitch has given the debentures a 'AA-(lka)(EXP)' investment grade rating.
People's Lesing chief executive D P Kumarage said in a statement that the issue provides an attractive investment opportunity over 4 to 5 years.
The minimum subscription is one million rupees or 10,000 debentures of 100 rupees each, with increments of 5,000 dentures.