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The world’s third-biggest carbon polluter joins green bond club to raise funds for renewable energy projects and extreme weather defences
25 January 2023 – 17:14 Ronojoy Mazumdar
India’s maiden sovereign green bond issuance fetched a better-than-expected yield as the government takes baby steps to raise funds for its transition to cleaner energy at affordable rates.
The government sold 80-billion rupees ($1bn) of securities, including 40-billion rupees each of 10-year and 5-year notes, the Reserve Bank of India said in a statement on Wednesday. The 10-year bond got priced at a coupon of 7.29%, six basis points lower than similar maturity sovereign debt, and compared with a 7.31% estimate in a Bloomberg survey. ..
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