NDB’s Rs. 16 b GSS+ Bond issue oversubscribed

Wednesday, 11 March 2026 01:54 - - {{hitsCtrl.values.hits}}

National Development Bank PLC (NDB) said its Basel III compliant GSS+ Bond issue has been oversubscribed, with applications exceeding 160 million bonds against the initial offering.

The bank said the strong demand had resulted in the issue closing yesterday in line with the prospectus, after applications surpassed the volume offered.

The bank had initially offered up to 120 million Tier 2, listed, rated, unsecured and subordinated redeemable Basel III compliant GSS+ bonds, issued at a par value of Rs. 100 each, aiming to raise Rs. 12 billion.

The bank also retained an option to issue up to a further 40 million Bonds in the event of oversubscription, allowing it to raise an additional Rs. 4 billion.

NDB said applications received on the closing date would be accepted and that the basis of allotment will be notified to the Colombo Stock Exchange in due course.