26 September 2024 12:17 am Views - 96
Commercial Bank’s proposed Sri Lankan rupee-denominated senior unsecured listed green bonds of up to Rs.5 billion have been assigned an expected National Long-Term Rating of ‘A(EXP) (lka)’ by Fitch.
The green bond is rated at the same level as the bank’s National Long-Term Rating, as it constitutes a direct, unconditional, unsubordinated and unsecured obligation of the bank and will rank pari passu with all of its present and future unsecured and unsubordinated obligations. The notes will mature in five years and the proceeds from the bond issuance will be used to expand the bank’s green lending portfolio and refinance eligible green projects.
The final rating is subject to the receipt of the final documentation, conforming to information already received.
Fitch affirmed Commercial Bank’s National Long-Term Rating on June 6, 2024.