Yes Bank, India’s 4th largest private sector bank, has successfully issued India’s FIRST ever Green Infrastructure Bonds raising an amount of Rs 1,000 crore. The issue launched on February 16, 2015 for Rs 500 crore plus green shoe option witnessed strong demand from leading investors including Insurance companies, Pension & Provident Funds, Foreign Portfolio Investors, New Pension Schemes and Mutual Funds, resulting in a total subscription of Rs 1,000 crore and was closed on February 24, 2015.
The bonds are for a tenor of 10 years. The bank’s Sustainable Investment Banking and Debt Capital Markets team acted as arranger to the transaction. The amount raised will be used by the bank to finance Green Infrastructure Projects in Renewable Energy including Solar Power, Wind Power, Biomass, and Small Hydel Projects. KPMG, India will be providing the Assurance Services annually, on the use of proceeds in accordance with the Green Bond principles.
Yes Bank’s sustainable development vision has been to ensure long term business success, by contributing towards economic and social development, a healthy environment and a stable society. The impact of this vision is comprehensively captured by reporting on environmental and social impacts that really matter, making the report very strategic, focused and credible.
Company Name | CMP |
---|---|
HDFC Bank | 1517.05 |
ICICI Bank | 1149.90 |
Axis Bank | 1166.15 |
Indusind Bank | 1515.60 |
Kotak Mahindra Bank | 1623.75 |
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