FINANCIAL CHRONICLE – Sri Lanka’s National Development Bank (NDB) has secured approval from the Colombo Stock Exchange to list debentures valued at 16 billion rupees, according to a stock exchange filing. These debentures will carry interest rates of 11.50%, 11.04%, and 11.85%.
NDB plans to issue 120 million Tier 2, listed, rated, unsecured, subordinated, redeemable Basel III compliant GSS+ bonds, each priced at 100 rupees. These bonds include a non-viability conversion feature. If the initial tranche is oversubscribed, an additional 40 million bonds will be issued.
The subscription list is set to open on March 10, with NDB Investment Bank Limited managing the issuance. Fitch Ratings has assigned a rating of ‘BBB+(lka)’ to this issue.
(Colombo/Jan30/2026)
