NDB’s GSS+ bond issuance breaks new ground with record Rs.16bn raised

National Development Bank PLC (NDB) commemorated raising Rs.16 billion with its first ever issuance of BASEL III compliant GSS+ (Green, Social, Sustainable & Sustainability Linked) bonds and the country’s largest issuance of GSS+ bonds to date by way of a market opening ceremony conducted on the trading floor of the Colombo Stock Exchange (CSE) last Friday.

Subscriptions were opened on 10th March 2026, with an initial issuance of 120 million BASEL III compliant tier 2, listed, rated, unsecured, subordinated, redeemable GSS+ bonds with a non- viability conversion of five & seven years, at a par value of Rs. 100 each.

The issue was rapidly oversubscribed within the same day, allowing NDB to issue a further 40 bonds, thus issuing a total of 16 million bonds by the day’s end. The bond issuance managed by NDB Investment Bank Ltd, constitutes the largest issuance of GSS+ bonds in Sri Lanka to date.

source: Daily Mirror