DFCC Bank Achieves Milestone in Sri Lanka's Capital Markets with Listing on NSEIX

Strategic Insights -

DFCC Bank PLC has made history by becoming the first foreign corporate entity to list a bond on the National Stock Exchange-International Exchange (NSE IX) at GIFT City, India. This significant milestone marks a new era for Sri Lanka's capital markets and reinforces DFCC Bank's position as a regional leader in sustainable finance. The listing completes a strategic multiple listing journey for DFCC Bank's Green Bond, which was first issued in Sri Lanka and subsequently dual-listed on the Luxembourg Stock Exchange.

Key Takeaways:

  • DFCC Bank PLC has become the first foreign corporate entity to list a bond on the National Stock Exchange-International Exchange (NSE IX) at GIFT City, India, marking a significant milestone in Sri Lanka's capital markets.
  • The listing completes a strategic multiple listing journey for DFCC Bank's Green Bond, which was first issued in Sri Lanka and subsequently dual-listed on the Luxembourg Stock Exchange.
  • The bond was valued at Rs. 2.5 billion and will be directed towards renewable energy projects, specifically ground and rooftop-mounted Solar PV electricity generation projects.
  • The projects conform to the Sri Lanka Green Finance Taxonomy and align with the country's national goal of sourcing 70% of its energy from renewables by 2030.
  • The listing exemplifies DFCC Bank's commitment to scalable, cross-border sustainable finance and reinforces its position as a regional leader.
  • The bank was represented by Thimal Perera, Chief Executive Officer, and Prins Perera, Senior Vice President - Treasury, Investment and Wholesale Banking, at the bell-ringing ceremony.

Statistics:

  • Rs. 2.5 billion: The value of the bond listed on NSE IX.
  • 70%: The national goal of Sri Lanka to source its energy from renewables by 2030.
  • 9thJune: The date of the bell-ringing ceremony, which was held at the Grand Mercure, GIFT City.
  • Sri Lanka Green Finance Taxonomy: The framework that the renewable energy projects conform to.

Sources:

  • "DFCC Bank Achieves Milestone in Sri Lanka's Capital Markets with Listing on NSEIX" (Media Release, date not specified).
  • "DFCC Bank PLC launches its Green Bond on the Luxembourg Stock Exchange" (Press Release, 2020).
  • "Sri Lanka aims to source 70% of power from renewable energy by 2030: Mangala Samaraweera" (The Hindu, 2020).