SBI Raises USD 250 Million via Green Bonds for Sustainable Projects
By Rediff Money Desk, NEWDELHI Jan 04, 2024 22:02
State Bank of India (SBI) has raised USD 250 million through issuance of Green Notes to fund sustainable projects. The issuance, maturing in 2028, is part of SBI's USD 10 billion medium-term note program.
![SBI Raises USD 250 Million via Green Bonds for Sustainable Projects](https://im.rediff.com/money/2017/oct/31bonds.jpg)
New Delhi, Jan 4 (PTI) State Bank of India (SBI) on Thursday said it has raised USD 250 million through issuance of the Green Notes to fund sustainable projects.
The bank has concluded the successful placement of USD 250 million senior unsecured Green floating rate notes, referred to as 'The Green Notes', SBI said in a statement.
This issuance, maturing on December 29, 2028, is part of SBI's USD 10 billion medium-term note programme and was conducted through a private placement facilitated by its London branch, it added.
Green Notes were issued on a floating rate basis of 1.20 per cent above the Secured Overnight Financing Rate (SOFR) and have been listed on the India International Exchange, the statement said.
Continuing its commitment towards sustainable development, proceeds will be allocated to eligible green projects according to the Bank's ESG Financing Framework, it added.
SBI chairman Dinesh Khara said: "The successful placement is testimony to SBI's commitment towards its sustainability objectives in creating a positive impact on the environment. Green banking and sustainability have long been areas of priority".
Towards this end, SBI has enunciated its ESG framework earlier this year.
Issuance of green bonds is one of the steps towards building up a green portfolio, he said.
The bank has concluded the successful placement of USD 250 million senior unsecured Green floating rate notes, referred to as 'The Green Notes', SBI said in a statement.
This issuance, maturing on December 29, 2028, is part of SBI's USD 10 billion medium-term note programme and was conducted through a private placement facilitated by its London branch, it added.
Green Notes were issued on a floating rate basis of 1.20 per cent above the Secured Overnight Financing Rate (SOFR) and have been listed on the India International Exchange, the statement said.
Continuing its commitment towards sustainable development, proceeds will be allocated to eligible green projects according to the Bank's ESG Financing Framework, it added.
SBI chairman Dinesh Khara said: "The successful placement is testimony to SBI's commitment towards its sustainability objectives in creating a positive impact on the environment. Green banking and sustainability have long been areas of priority".
Towards this end, SBI has enunciated its ESG framework earlier this year.
Issuance of green bonds is one of the steps towards building up a green portfolio, he said.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...