RBI targets selling first batch of green bonds as early as December

Reserve Bank of India, the nation’s debt manager, is preparing to sell its first ever batch of sovereign green bonds as early as next month, according to people with knowledge of the matter.
 

Officials are in talks with foreign portfolio investors with dedicated green funds, as well as local banks and insurance firms for an auction mid-December, the people said, asking not to be identified discussing private deliberations. The government is seeking a discount of at least 2-5 basis points compared to the yield on the benchmark 10-year note, they added.

Demand for the bond could feed into India’s budget