ComBank Rs. 15 b debut Green Bond issue supported by GGGI

Wednesday, 6 August 2025 00:06 - - {{hitsCtrl.values.hits}}

The Global Green Growth Institute (GGGI) provided technical support to the Commercial Bank of Ceylon PLC (CBC), which successfully issued its debut green bond, raising Rs. 15 billion to finance sustainable projects in sectors such as renewable energy. The issuance was oversubscribed on its opening day, reflecting strong demand from investors for sustainable financing instruments in Sri Lanka.

Preceding the issuance, through the GGGI’s MoU with CBC, technical assistance was provided to CBC for the development of its Sustainable Bond Framework (SBF), which sets out the project proceeds eligibility criteria, processes, and standards for selecting projects to be financed through green bond proceeds, as well as the mechanisms for managing and reporting on the use of funds. The framework aligns with the International Capital Markets Association (ICMA) Green Bond Principles 2021 and Social Bond Principles 2023. In addition, GGGI further guided CBC to secure a Second Party Opinion (SPO) for the SBF.

GGGI’s support was delivered through its Global Trust Fund on Sustainable Finance Instruments, funded by the Government of Luxembourg. The program assists governments and financial institutions in developing countries to build readiness for accessing capital markets to finance low-carbon, climate-resilient investments.

The Basel III-compliant Tier II listed, Rated, Unsecured, Subordinated, Redeemable, bonds were available in six types, across maturities of five, seven, and ten years, with both annual and semi-annual interest payment options.

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