Symbiotics Launches First $7.75 Million Green Bond With Pan Asia Banking Corporation
Symbiotics, the leading market access platform for impact investing, has arranged its first Green Bond, raising $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.