• Sunday, November 28, 2021
India Corona Update 
Total Fatalities 467,468
Total Cases 34,555,431
Today's Fatalities 488
Today's Cases 10,549
Pakistan Corona Update 
Total Fatalities 418,480
Total Cases 31,216,337
Today's Fatalities 3,998
Today's Cases 42,015
Sri Lanka Corona Update 
Total Fatalities 418,480
Total Cases 31,216,337
Today's Fatalities 3,998
Today's Cases 42,015
Bangladesh Corona Update 
Total Fatalities 418,480
Total Cases 31,216,337
Today's Fatalities 3,998
Today's Cases 42,015
UK Corona Update 
Total Fatalities 418,480
Total Cases 31,216,337
Today's Fatalities 3,998
Today's Cases 42,015
India corona update 
Total Fatalities 467,468
Total Cases 34,555,431
Today's Fatalities 488
Today's Cases 10,549

Business

SBI lists $650m green bonds on Luxembourg Stock Exchange

State Bank of India has raised £598m in the green bond market so far. (Photo credit should read PRAKASH SINGH/AFP via Getty Images)

By: Chandrashekar Bhat

STATE Bank of India (SBI) has listed its $650-million (£486m) green bonds simultaneously on the India International Exchange (India INX) and the Luxembourg Stock Exchange.

This dual listing is in line with this year’s topic of the World Investor Week, ‘sustainable finance’, as indicated by regulatory body International Financial Services Centres Authority (IFSCA), India INX said in a statement on Monday (22).

The World Investor Week 2021 is being observed till November 28.

In November last year, India INX, the international arm of BSE (Bombay Stock Exchange), had announced its memorandum of understanding with the Luxembourg Stock Exchange (LuxSE) for cooperation in the financial services industry and green finance in the local market.

This dual listing of green bonds is the first step towards this collaborative effort, the statement said.

SBI managing director Ashwini Kumar Tewari said the listing will “open up new avenues for market development and fundraising opportunities in the green bond space.”

The lender has raised $800m (£598m) in the green bond market so far, he said.

India INX managing director and CEO V Balasubramaniam said, “We will work towards establishing a green corridor with Luxembourg to enable Indian Issuers to automatically qualify for dual listing with LuxSE to get investors from Europe and the globe.”

In 2019, India INX had unveiled GSM Green, a platform for fundraising and trading in green, social and sustainable bonds exclusively.

To date, the global securities market has established over $58 billion (£43.4 bn) in medium-term note programmes. More than $33 bn (£24.7 bn) of bonds have been issued, of which $4.3 bn (£3.2 bn) of issuances are listed on the GSM Green platform.

(PTI)

Eastern Eye

Related Stories

Eastern Eye

Videos

Mrunal Thakur on Dhamaka, experience of working with Kartik Aaryan,…
Nushrratt Bharuccha on Chhorii, pressure of comparison with Lapachhapi, upcoming…
Abhimanyu Dassani on Meenakshi Sundareshwar, how his mom Bhagyashree reacted…