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IDBI Bank raises $350 million via green bond sale

26 Nov 2015 Evaluate

IDBI Bank has launched a USD 350 million 5 year Reg S Green Bond issue on November 23, 2015. The transaction received an overwhelming response and the issue was oversubscribed by 3 times. The issue was made under the USD 5 billion MTN Programme listed on the Singapore Stock Exchange.

The transaction attracted interest from a diversified range of investors including Asset Managers (50%), Banks (28%),Private Banks (17%), and corporate and Others (5%). Around 82% of the allocation was made to Asian Investors, 18% to European investors. ANZ Bank, BNP Paribas, Citibank, EISBC, JP Morgan Chase and Standard Chartered Bank acted as Joint Book Runners and Lead Managers to the transaction.

IDBI Bank has become the first state-owned commercial bank to raise USD 350 million by selling green bonds, where proceeds are used for refinancing of clean energy projects in India assisted by IDBI Bank which include wind energy, solar energy, biomass, water recycling systems, energy distribution and management system etc. The proceeds will also be used for financing of new projects in above mentioned areas including sustainable transport.

IDBI Bank Share Price

75.07 0.78 (1.05%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
HDFC Bank 799.90
ICICI Bank 1347.50
Axis Bank 1359.15
Kotak Mahindra Bank 383.50
Indusind Bank 853.15
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