Thursday Apr 02, 2026
Thursday Apr 02, 2026
Monday, 16 March 2026 04:38 - - {{hitsCtrl.values.hits}}
National Development Bank PLC (NDB) has allotted 160 million Basel III compliant Tier 2 Green, Social and Sustainability (GSS+) bonds following strong investor demand for the issue.
The bank said it had resolved to allot the full 160 million bonds after applications exceeded the initial offer.
The issue initially comprised up to 120 million listed, rated, unsecured and subordinated redeemable Basel III compliant Tier 2 bonds with a non-viability conversion feature. The bonds were issued at a par value of Rs. 100 each to raise Rs. 12 billion.
The bank also retained the option to issue up to a further 40 million bonds in the event of oversubscription. Following strong demand, this additional tranche was exercised, bringing the total number of bonds allotted to 160 million and the total funds raised to Rs. 16 billion.
According to the basis of allotment, 50 million bonds were allocated on a preferential basis to applicants identified under Section 6.7 of the Prospectus dated 4 March 2026.
Investors who had applied for 100% of the initial issue under the public offering were allotted the full number of bonds applied for. Applications above the initial offer were allotted under the additional tranche issued following the oversubscription.
The allotment is subject to the realisation of cheques and verification of information contained in the applications.
NDB said any differences arising from adjustments or verification of applications will be settled from the largest Tier 2 GSS+ bond applications whose allotments have not been fully met.
The basis of allotment was decided on 14 March 2026.
