3 October 2023 04:51 pm
Sri Lanka’s LOLC Group is raising US $ 100 million through the iissuance of sustainable bonds, which will be listed on the Frankfurt Stock Exchange.
LOLC’s Singapore-based subsidiary, LOLC Financial Sector Holding Private Limited (LOLC FSH), which is the holding company for 21 SME and microfinance businesses across 20 countries, will be the borrower of the bond proceeds.
The bonds are issued by UK-based Sustainable Capital PLC, a company recognised on the NASDAQ Sustainable Bond Network. Sri Lanka’s Capital Alliance Partners (CALP) serves as the financial advisor for the transaction.
LOLC FSH is expected utilize the funds raised to further bolster financial services and inclusive initiatives in the region, strengthening its commitment to global sustainability.
LOLC Group has subsidiaries spanning across Asia, Australia Africa, and Central Asia, and serves over 1.3 million customers globally, focusing on sectors including financial services, leisure, agriculture, plantations, construction, real estate, manufacturing, trading, technology, research, innovation, mining, and strategic investments.