DFCC first off the block with Green Bond issuance

DFCC Bank is to come up with the first ever Green Bond issuance.

Its Board of Directors on Wednesday resolved to issue Senior, Listed, Rated, Unsecured, Redeemable Green Bonds with a term of three years to the value of Rs. 2 billion with a possible greenshoe option to issue upto Rs. 2.5 billion in the event of an oversubscription.

The proposed issue is subject to regulatory and other approvals.

DFCC Bank said the interest rates is to be decided closer to the finalisation of the Trust Deed based on the market prevailing at that point in time.