The country’s largest lender State Bank of India on Saturday said it has raised USD 100 million green bonds, the first such bond by any state-owned bank in this fiscal. The bonds were priced at 3M Libor + 80 basis points. The lender has already two climate bond initiative certified green bonds issuances, aggregating USD 700 million.
“It is an extremely important transaction for the country especially in this critical situation. We believe this issuance will reassure confidence in the country’s strength in the international bond market,” the bank’s chairman Rajnish Kumar said in a statement.
The bank has adopted the green bond framework with an objective to create a positive impact on the environment and this transaction is yet another step as part of sustainability journey, he added.
The bonds will be issued through SBI’s London branch on March 31, 2020 and will be listed on Singapore SGX.