ComBank’s Rs. 15 b Green Bond issue oversubscribed on opening day

Tuesday, 5 August 2025 02:03 - - {{hitsCtrl.values.hits}}

The Commercial Bank of Ceylon PLC yesterday announced that investors had demonstrated overwhelming support for its green lending aspirations by oversubscribing the bank’s Rs. 15 billion Green Bond issue on its opening day yesterday.

The Green Bond issue comprised of an initial issue of 100 million Basel III compliant Tier 2 Listed, Rated, Unsecured, Subordinated, Redeemable, Green Bonds with a non-viability conversion feature at the par value of Rs. 100 each, to raise a sum of Rs. 10 billion; and an option to issue up to a further 50 million Green Bonds at the discretion of the bank, in the event of an oversubscription of the initial issue.

Commercial Bank Managing Director and CEO Sanath Manatunge said: “Green lending is a key element of our sustainability journey. The appetite of institutional and individual investors to support this aspect of our business is a resounding expression of confidence in the bank’s efforts to integrate a nationally significant commitment to sustainability into its core operations. This augurs well for the future.”

Limited to qualified investors, Commercial Bank’s Green Bonds were offered in six types with three tenures – Types A and B with a five-year tenure, Types C and D with a seven-year tenure, and Types E and F with a 10-year tenure, the bank said.

These Green Bonds are rated A(lka) by Fitch Ratings Lanka Ltd. The Investment Banking Division of the Commercial Bank of Ceylon PLC was the Manager to the issue.

For the three months ending 31 March 2025, the Commercial Bank Group reported a gross income of Rs. 88.105 billion, total operating income of Rs. 46.619 billion, Profit Before Tax of Rs. 22.557 billion, and Profit After Tax of Rs. 14.972 billion, with total assets reaching Rs. 2.999 trillion, loans and advances totalling Rs. 1.642 trillion, and total deposits exceeding Rs. 2.412 trillion.

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