ComBank upsizes Green Bond issuance to Rs. 15 b

Friday, 7 February 2025 00:00 - - {{hitsCtrl.values.hits}}

Commercial Bank PLC has announced the issuance of Rs. 15 billion worth Green Bonds as opposed to Rs. 5 billion indicated previously.

Subject to obtaining all necessary regulatory and shareholder approvals, and provided other conditions are acceptable to the bank, it will issue 100,000,000 Basel III compliant, Tier 2 Listed, Rated, Unsecured, Subordinated, Redeemable Green Bonds with a Non-Viability Conversion feature of Rs. 100 each, amounting to Rs. 10 billion for tenures of five years, seven years and 10 years, with an option to issue up to a further 50,000,000 Bonds amounting to a further Rs. 5 billion at the discretion of the bank, in the event of an oversubscription of the initial issue.

The Board of Directors of the bank also decided not to proceed with the previously announced Listed, Rated, Senior, Unsecured, Redeemable Green Bond issue of Rs. 5 billion in August 2024.