Green Bonds Issuance

KPI Green lists India's first externally credit-enhanced ₹670 cr green bond

Gujarat-based renewable energy developer and operator KPI Green Energy on Thursday announced the successful listing of its inaugural green bond worth Rs 670 crore on the National Stock Exchange of India. This marks a significant advancement for sustainable finance in India's renewable sector, a company statement said. The five-year bond carries an annual coupon rate of 8.50 per cent with a quarterly amortisation profile. It is supported by a 65 per cent partial guarantee from GuarantCo , part of the Private Infrastructure Development Group, which is funded by the governments of the United Kingdom, Switzerland, Australia, Sweden, Netherlands, Canada and France. GuarantCo is rated AA- by Fitch and A1 by Moody's. This external credit enhancement has enabled AA+(CE) rating from both CRISIL and ICRA, broadening the investor base to include long-term domestic institutions such as infrastructure funds, mutual funds, and insurance companies. Bond proceeds will be used to expand KPI Gree

IREDA bonds get tax-exempt status, helping investors save on capital gains

Exemption to IREDA bonds redeemable after five years and issued on or after July 9

RBI rejects bids for 30-year green bonds as investors seek high yields

Investors demanded higher returns for 30-year green bonds, prompting RBI to reject all bids at auction; bond yields rise amid absence of greenium and market caution

NHAI arm DMEDL raises Rs 775 crore through issuance of green bonds

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 ...

PFC raises Rs 6,252 crore via issuance of bonds with different maturities

DME Development issues its first green bond

RBI devolves 70% new green bonds at 6.78%-6.84%, cutoff below 10-year note

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

Aim to have 10 billion square feet of green buildings in 10 years: IGBC

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

Azure Power to prepay green bonds worth $310 mn maturing in December

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

Sovereign green bonds trading at IFSC to start in 2nd half of FY25: RBI Guv

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 becomes first Indian REIT to issue sustainability-linked bonds

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

RBI widens door for foreign participation in green bonds: What this means

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

Central govt to borrow 53% of full-year target in the first half of FY25

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 plans to raise funds via green bonds in next fiscal yr

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 ...

REC Limited issues first Japanese Yen green bonds worth JPY 61.1 billion

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

REC to raise about Rs 3,500 crore via yen-denominated green bonds

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,

Global green bonds mark second-busiest month of 2023 as issuers pounce

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

First sovereign green bond of FY24 sails through amid thin greenium

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

Rupee-denominated green bonds to pick pace from FY24: SBI's Dinesh Khara

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

EU approves world's first green bond standards to avoid greenwashing

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

REC Limited lists $750-mn green bonds on int'l stock exchanges at GIFT City

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