Sri Lanka, July 16 -- Sampath Bank PLC will open subscriptions on July 17 for a Basel III-compliant Tier 2 green bond issue, aimed at raising up to Rs.10 billion, to strengthen its capital base and support the sustainable financing initiatives, according to a Colombo Stock Exchange (CSE) circular.
The CSE said it had granted approval in principle for the listing of the bank's Basel III-compliant Tier 2 listed, rated, unsecured, subordinated, redeemable green bonds, with a non-viability conversion feature.
The issue comprises an initial offering of up to 70 million bonds, with a par value of Rs.100 each, seeking to raise Rs.7 billion.
The bank also has the option to issue a further 30 million bonds in the event of oversubscription, takin...