India’s biggest lender State Bank of India (SBI) listed Green Bonds of $100 million under its $10 billion Global Medium Term Note Program on India INX’s Global Securities Market Green Platform (GSM). The bond issue has been priced after adding 80 basis points over the three-month London-Interbank Offered Rate (Libor) and is rated BBB- by Fitch.
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. SBI has adopted the green bond framework to create a positive impact on the environment and this transaction is yet another step as part of our sustainability journey.
SBI had earlier also listed its maiden Green Bond issuance of $650 million on India INX.