State Bank Of India Planning To Issue $3 Bn Green Bonds


State bank of India, the largest lender of the country plans to raise the overseas green-bond issue to $3 billion in the country. Nirmal Singh 3C Company says the bank would along with BlackRock, International Finance Corp and JP Morgan- backed entities funding projects that will help achieve the government’s move a step ahead towards sustainable growth.

According to the sources at Nirmal Singh 3C Company, the State Bank of India has internally approved their plan of increasing the limit of fund lending and it is also said that they have seeked approval from a global adjudicating authority on green bonds.

The biggest government owned bank has started with their procedure for appointing investment bankers who will help them in raising money for the dedicated fund over a period of one or two quarters. The fund would be raised in installments, the timing and issue of which would be decided by the investors demand. 

What are Green Bonds?

Bonds are debt instruments that help the issuer get capital by paying the investor a fixed amount in the form of interest in certain period. In case of green bonds, then investor would pass the funds only if they are being used for green projects, like renewable energy or emission reduction etc. Green funds are a great way to keep a check on the activities of big businessmen and loaners who often use the funds in operations that end up harming the environment.

Nirmal Singh 3C Company says, the green bonds were first issued by Yes Bank which made them win the Green Bond Pioneer Awards for ‘Pioneers in emerging Markets India.’ The awards were organized by Climate Bonds Initiative (CBI), and were launched with the objective of increasing awareness on green bonds in the global investor and corporate community.
CBI is an international non- profit investor mobilizing trillion dollar green bonds for climate change solution. The State Bank has still not come out in open about their move on the same, but according to the sources, Nirmal Singh 3C Company says that the roadshows for the bond issue might begin in the coming few weeks and cover global financial centres as well.
Location: India

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