DFCC green bond issue oversubscribed on opening day

The Initial Public Offering (IPO) of the green bonds by DFCC Bank was oversubscribed on the opening day (12).
In a filing to the Colombo Stock Exchange (CSE), the bank shared that it received applications for over 25,000,000 bonds (Rs.2,500,000,000) and the issue was oversubscribed. 

Accordingly, the issue was closed at 4.30 p.m. on the yesterday as per the prospectus. The basis of allotment will be notified to the CSE in due course.

DFCC Bank is the first in Sri Lanka to issue green bonds, which are financial instruments that finance green projects and provide investors with regular or fixed income payments.

DFCC issued 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 up to Rs. 2.5 billion in the event of an oversubscription.