We are delighted to announce that the Green bond we structured for Pan Asia Banking corporation in Sri Lanka, for a total volume of LKR 1.42 billion (USD 7.75 million), won the Award for innovation – bond structure (green bond) category in Environmental Finance’s 2021 Bond Awards.
FIRST GREEN BOND IN SRI LANKA
It was the first green bond in Sri Lanka and the first one structured under Symbiotics’ Sustainability, Social and Green Bond framework which was certified in December 2019. Pan Asia will use the proceeds of the bond to finance projects in fields such as renewable energy, energy efficiency, sustainable agriculture and clean transportation.
AN INNOVATIVE STRUCTURE
This Award is a testimony of our ability to issue Green, Social and Sustainability bonds at scale through our cutting edge MSME bond platform based in Luxembourg. Symbiotics’ solution to issue these bonds is innovative in several aspects:
- Investment universe: Symbiotics focuses exclusively on issuing Green, Social and Sustainability Bonds in emerging and frontier markets. We are able to issue bonds in both USD and local currency.
- Accessibility: We focus on issuing bonds with small amounts of between USD 5 – 20 million. This puts Green, Social and Sustainable Bonds within the reach of mid-sized financial institutions and corporates.
- Administrative set-up: Our solution is centered around a dedicated compartmented passthrough SPV set-up in Luxembourg with its own Sustainable Bond Framework, which received a second party opinion from DNV GL. All bonds are listed on the Luxembourg Green Exchange.
Over the last 15 months Symbiotics has issued eight sustainable bonds with a total value of around USD 80 million. If you would like to know more about investing in sustainable bonds or Symbiotics other investment solutions, please contact us at investors@symbioticsgroup.com
