National Development Bank PLC (NDB) said its Board has approved a proposal to issue up to Rs. 16 billion in GSS+ Bonds.
GSS+ Bonds typically refer to Green, Social and Sustainability-linked instruments to fund projects with environmental or social benefits, now increasingly used by banks to diversify funding sources while meeting sustainability-linked commitments.
The bank will issue up to 160 million listed, rated, unsecured, subordinated, redeemable GSS+ Bonds, with a non-viability conversion at a face value of Rs. 100 each.
The issue will proceed subject to obtaining the required regulatory clearances, and that the GSS+ Bonds will be quoted on the Colombo Stock Exchange.