BOC Plans Rs. 10 Bn Sustainability Bond Issue to Boost Capital 📈

• Bank of Ceylon (BOC) is set to issue up to Rs. 10 billion in Basel III-compliant, Tier 2, unsecured, subordinated, redeemable 5-year Sustainability Bonds with non-viability write-down features. • The initial issuance aims to raise Rs. 10 Bn (100 million bonds at Rs. 100 each). • Upsize Potential: Due to potential oversubscription, the total potential issuance could reach Rs. 20 billion across two tranches (Rs. 10 Bn initial + two Rs. 5 Bn optional tranches). • Key Objective: Proceeds will strengthen the bank's Tier 2 capital base and fund sustainability-linked financing activities. • The issuance is currently subject to obtaining all necessary regulatory approvals, including from the Central Bank of Sri Lanka (CBSL).