Green Bonds Issuance

DME Development Limited (DMEDL), an arm of NHAI, has raised Rs 775 crore through issuance of green bonds in roads and highways sector, an official statement said on Monday. The proceeds from the issue of 'green bonds' has been used for activities such as expenditure on avenue plantation, median plantation, construction of animal underpasses, natural stormwater drainage, streetlight on renewable energy (solar), waste recycling and reuse and rainwater harvesting, the statement said. "DMEDL today successfully raised Rs 775 crore from the first of its kind issue of 'green bonds' in roads and highways sector," the Ministry of Road, Transport and Highways said. NHAI Chairman Santosh Kumar Yadav said, "This first of its kind initiative for the roads and highway sector will set a benchmark and encourage participation from a diverse set of investors." N R V V M K Rajendra Kumar, Member (Finance), NHAI, and Chairman, DMEDL, said: "The robust demand for green bonds and successful issuance ...

DME Development issues its first green bond

The RBI sold around 15 billion rupees ($177.53 million) worth of 10-year green bonds to investors at a 6.79% coupon but devolved nearly 35 billion rupees worth of the note, the first such devolvement

As of now, over 14,511 green building projects in India, covering 12.307 billion square feet, have adopted IGBC ratings

Sustainable energy solutions provider Azure Power on Monday said it has issued a notice to prepay green bonds worth USD 310 million maturing in December 2024. The bonds (RG II) are backed by seven utility projects, originally commissioned between 2016 and 2019, a company statement said. The refinancing, valued at approximately Rs 24 billion, is structured as an INR Term Loan underwritten solely by REC Limited. The projects, with a total capacity of 615 MW, are spread across Punjab, Maharashtra, Uttar Pradesh, Andhra Pradesh, Gujarat, Karnataka, and Rajasthan. The green bonds were issued in 2019 for USD 350 million and are listed in Singapore. Azure Power Global Limited, a leading sustainable energy solutions provider and renewable power producer in India, issued a notice to prepay green bonds maturing in December 2024. "This refinancing reaffirms Azure Power's strong market position and our capability to raise funding at attractive terms," Sunil Gupta, CEO at Azure Power, said in

Reserve Bank Governor Shaktikanta Das on Saturday said trading of sovereign green bonds can commence at the International Financial Services Centre in Gujarat during the second half of the current fiscal. "We are in discussion with the IFSC, it will be operationalised very soon. I think in the second half (of the current financial year), it will be possible," Das said. In April, the Reserve Bank of India (RBI) had announced that it will issue a framework to enable the trading of sovereign green bonds in GIFT City. The government has been raising funds through green bonds since 2022-23 and has raised a total of Rs 36,000 crore in the last two years. So far in the current financial year, the government has raised only Rs 1,697 crore out of the stipulated Rs 12,000 crore scheduled to be raised in the first half ending in September through green bonds as it did not find favourable bids. Asked about the tepid response from investors to such bond issuance, Das said, "as the debt manager

Mindspace Business Parks REIT raises Rs 650 crore from the World Bank's International Finance Corporation

A scheme for investment and trading in sovereign green bonds (SGrBs) by eligible foreign investors in IFSC is being notified separately in consultation with the government and the IFSC authority

The gross borrowing in the first six months of the upcoming financial year stands at Rs 7.50 trillion, out of the total borrowing target of Rs 14.13 trillion for FY25

LIC Housing Finance, the mortgage arm of insurance behemoth LIC, plans to mobilise funds through green bonds in the coming financial year with an aim to finance environmentally-sustainable housing projects. "Green financing is something that we will look at the next year and we would deploy the fund for financing green housing projects," LIC Housing Finance MD and CEO Tribhuwan Adhikari told PTI in an interaction. LIC Housing Finance will have its board meeting on March 7 to consider and approve the borrowing plan for 2024-2025 through loans or issue of redeemable non-convertible debentures, zero couponed bonds, subordinate debt, Tier II bonds or any other means approved by the regulator. Adhikari said the company hopes to hit the net profit of Rs 5,000 crore-milestone by the end of current financial year on the back of robust loan demand and expansion in non-core business. The non-core businesses include Loan Against Property (LAP) and affordable housing finance, he ...

This is REC Limited's 11th venture into the international bond market and the first-ever Yen Bond issuance by an Indian public sector undertaking

State-owned REC Ltd on Friday announced it will raise 61.1 billion yens (about Rs 3,500 crore) through issuance of green bonds. The bonds will issued as part of REC's USD 10-billion global medium-term note programme, the company said in a regulatory filing. Giving the break-up of each note, the company said a five-year bond worth 31 billion yens will have a coupon rate of 1.67 per cent, a 27.4-billion yen paper with maturity in 5.25 years will have a coupon rate of 1.79 per cent, and another 2.7-billion yen bond having maturity period of 10 years will carry a coupon rate of 2.20 per cent. These bonds will be listed on Global Securities Market of India International Exchange (India INX) and NSE IFSC, the company said. REC said the net proceeds from these notes will be used to finance green projects in accordance with the REC's Green Finance Framework and the external commercial borrowing guidelines and directions of the Reserve Bank of lndia (RBI). REC, under the Ministry of Power,

Issuance of all kinds of ESG bonds - green, social, sustainability and sustainability-linked bonds, or SLBs - jumped to $82.6 billion in November, up from $55.9 billion in October

The yield on the 5-year government bond closed the day at 7.27 per cent.

He highlighted that India began green bond issuances in 2014, has garnered Rs 43 billion through green bonds and has been instrumental in augmenting the adoption of renewable energy

Europe is the world's biggest issuer of green bonds, accounting for more than half of global volume in 2021, though issuance is still only 3% to 3.5% of the overall bond market

With this listing, the cumulative ESG labelled bonds listed on IFSC exchanges has crossed $10 billion," Srinivas said.

State-owned non-banking finance firm REC Ltd on Saturday said it has raised USD 750 million (about Rs 6,138 crore) through issuance of green bonds. The net proceeds from the issue of the bonds will be applied to finance, in whole or in part, the eligible green projects in accordance with the approvals granted by Reserve Bank of India from time to time and in accordance with the ECB guidelines, according to a statement. "REC Ltd has successfully raised USD 750 million through 5-year 144A/ RegS green bonds under its global medium-term programme of USD 7 billion," the statement said. As a frequent issuer in the market and given the relatively stable market backdrop last week, the REC decided to capitalise on the environment to carry out an intra-day execution post extensive investor roadshows spanning two weeks in different geographies covering Singapore, the UK, and the US, it stated. The issue marks the REC's return to the capital market since 2021, with the last 144A transaction in

State-owned non-banking finance firm REC Ltd has raised USD 750 million through issuance of green bonds. The expected settlement date for these bonds is April 11, 2023. "REC Ltd under its USD 7 billion Global Medium Term Note Programme, has priced and issued USD 750,000,000; 5.625 per cent green bonds on April 3," according to a regulatory filing. These bonds will mature on April 11, 2028, and all principal and interest payments will be made in US dollars. The net proceeds from the issue of these bonds will be used in finance, in whole or in part, the eligible green projects, it stated. These bonds will be listed on Global Securities Market of India International Exchange (India INX) and NSE IFSC.

In a report listing steps to revise the framework, the unit of Fitch Ratings said implementing public-sector credit guarantees would help lower financing costs