NDB to raise Rs. 16 b via GSS+ Bonds

Monday, 17 November 2025 00:26 - - {{hitsCtrl.values.hits}}

National Development Bank PLC (NDB) said its Board has approved a proposal to issue up to Rs. 16 billion in GSS+ Bonds.

GSS+ Bonds typically refer to Green, Social and Sustainability-linked instruments to fund projects with environmental or social benefits, now increasingly used by banks to diversify funding sources while meeting sustainability-linked commitments.

The bank will issue up to 160 million listed, rated, unsecured, subordinated, redeemable GSS+ Bonds, with a non-viability conversion at a face value of Rs. 100 each.

The issue will proceed subject to obtaining the required regulatory clearances, and that the GSS+ Bonds will be quoted on the Colombo Stock Exchange.