Alliance Finance Company, the oldest finance company in Sri Lanka, announced this week that it will raise Rs. 1 billion via redeemable green bonds.

The board approval to listed, rated, guaranteed, senior, redeemable green bonds issue was taken on 25 November (Monday).

The board has authorised the issuance of up to a maximum of ten million bonds, with a par value of Rs. 100 each, for a term of three years, with a total value of Rs. 1 billion. 

While the issue is subject to approval from the Colombo Stock Exchange (CSE), approval from the Central Bank has been received.

The interest rates will be decided closer to the finalisation of the issue, based on the prevailing market rates at the time, Alliance Finance Company said in a disclosure.