Thursday Oct 22, 2026
Thursday Oct 22, 2026
Thursday, 22 October 2026 00:00 - - {{hitsCtrl.values.hits}}
Sarvodaya Development Finance PLC (SDF) yesterday said it has proposed extending the timeframe for allocating the proceeds of its Rs. 2 billion High Yield Sustainable Bond Issue 2025 by six months, as Rs. 337 million earmarked for green projects remains undisbursed.
Under the Prospectus dated 26 September, 2025, the proceeds were expected to be fully allocated within 12 months of issuance. The issue opened on 8 October, 2025, and was allotted on 17 October, 2025.
The Prospectus designated 25% of the proceeds, or Rs. 500 million, for Green eligible financing and 75%, or Rs. 1.5 billion, for Social eligible financing. The full Rs. 1.5 billion for Social eligible financing has been disbursed, the company said. Of the Rs. 500 million for Green eligible financing, Rs. 163 million has been disbursed, leaving Rs. 337 million. In all, about 83% of the proceeds have been allocated.
The company proposes to extend the allocation period from one year to one and a half years from the date of issuance, with full allocation expected by 17 April, 2027. The additional six months are required to disburse the remaining Rs. 337 million to eligible Green projects, it said.
The revision relates solely to the allocation timeframe, the company said. The underlying objectives, eligible project categories, the allocation split between Green and Social financing and the intended use of proceeds set out in the Prospectus and the company’s Sustainable Bond Framework remain unchanged.
Pending full allocation, unallocated proceeds will continue to be managed in accordance with the arrangements set out in the Prospectus and the Sustainable Bond Framework. The company said it would continue to monitor the allocation and utilisation of proceeds and make the relevant disclosures in its Annual Reports and Interim Financial Statements.
