AGEL lists USD 750-million foreign currency green bonds on India INX platform

By: |
September 09, 2021 5:14 PM

These bonds have been listed on India INX's GSM green platform, which is the exchange's dedicated platform for listing of green, social, sustainable and all such ESG (environment, social and governance)-flavoured bonds.

Adani Green Energy Ltd has listed its maiden USD 750-million green bonds with a 3-year maturity at a competitive coupon of 4.375 per cent, India INX said in a statement.

Adani Green Energy Ltd (AGEL) has listed its USD 750-million foreign currency green bonds on India INX’s Global Securities Market platform.

Adani Green Energy Ltd has listed its maiden USD 750-million green bonds with a 3-year maturity at a competitive coupon of 4.375 per cent, India INX said in a statement.

The bonds were rated Ba3 (stable) by Moody’s and have garnered huge investor interest across the globe, it added.

These bonds have been listed on India INX’s GSM green platform, which is the exchange’s dedicated platform for listing of green, social, sustainable and all such ESG (environment, social and governance)-flavoured bonds.

India INX MD & CEO V Balasubramaniam said in the statement, “We welcome Adani Green Energy for the listing of its USD 750-million foreign currency green bonds on GSM green platform of the India INX. The criteria for issuance is aligned with global standards established by ICMA’s Green Bond Principles and Climate Bonds Initiative.”

He added that the exchange is committed to the growth of the ESG segment in IFSC which is in line with the vision of the International Financial Services Centres Authority’s Issue and Listing Regulations issued in 2021.

India INX, the BSE’s international arm, introduced the Global Securities Market (GSM) platform, which is a pioneering concept in India, to offer issuers an efficient and transparent method to raise capital. The platform offers a debt listing framework at par with other global listing venues such as London, Luxembourg and Singapore.

To date, the Global Securities Market has established over USD 55 billion in MTN (medium-term note) programmes and more than USD 31 billion of bonds issued. The issuer mix is a healthy one with banks (SBI, Exim Bank, HDFC Bank), supranational (Asian Development Bank), state-owned finance corporations (NTPC, PFC, REC) and several others (Adani Green, Adani Port).

Further, India INX is also a market leader in the derivatives segment; and for August 2021, the market share of India INX stood at 83 per cent.

India INX commenced its trading activities on January 16, 2017, and is India’s first international exchange set up at GIFT IFSC.

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