“Symbiotics launches first USD 7.75 million Green Bond with Pan Asia Banking Corporation” – Symbiotics – June 16, 2020

In a press release distributed on June 16, 2020 Symbiotics reported that it “has arranged its first Green Bond, raising USD 7.75 million (LKR 1.42 billion) for Pan Asia Banking Corporation, a prominent commercial bank in Sri Lanka. The main investor in the bond is SEB, the major Nordic banking group.

The bond is the first Green Bond issued via Symbiotics’ sponsored bond issuance platform (Micro, Small & Medium Enterprises Bonds S.A.) under its Sustainability, Social and Green Bond Framework which was certified in December 2019 by DNV GL. The Green Bond proceeds were fully used towards a 4-year, senior unsecured, local currency loan to Pan Asia Bank.

Pan Asia Bank is a pioneer promotor of green financing in Sri Lanka and plays a pivotal role in making a local positive impact in the sphere of sustainability. The proceeds of the Green Bond will be used to finance, amongst others, sustainable agriculture, renewable energy and energy efficiency projects.”

You may read the press release on the news page of the Symbiotics internet site.