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SBI Places $ 650 Million Green Bonds on Indian INX and Luxembourg Stock Exchange

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The State Bank of India (SBI) on Monday listed its $ 650 million green bonds simultaneously on the India International Exchange (India INX) and the Luxembourg Stock Exchange.

This dual listing is in line with the theme of this year’s Global Investor Week, “sustainable finance,” as stated by the regulator International Financial Services Centers (IFSCA), India INX said in a statement.

World Investor Week (WIW) 2021 is observed from today until November 28.

Last year, in November, India INX, the international arm of BSE, announced its memorandum of understanding with the Luxembourg Stock Exchange (LuxSE) for cooperation in the financial services sector, the maintenance of orderly markets in the respective countries of securities, ESG (environment, social and governance) and green finance on the local market.

This dual listing of green bonds is the first step towards this collaborative effort, according to the press release.

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SBI Managing Director Ashwini Kumar Tewari said in the statement: “Listing of green bonds on the Luxembourg Stock Exchange will open new avenues for market development and fundraising opportunities in the green bond space. .

The lender has raised $ 800 million in the green bond market so far, he said.

India INX Managing Director and CEO V Balasubramaniam said: “We will work to establish a green corridor with Luxembourg to allow Indian issuers to automatically qualify for dual listing with LuxSE in order to attract investors from Europe and around the world ”.

In 2019, India INX unveiled GSM Green, an exclusively green, social and sustainable bond fundraising and trading platform.

To date, the global securities market has implemented more than $ 58 billion in MTN (medium term note) programs. More than $ 33 billion of bonds have been issued to date, of which $ 4.3 billion of issues are listed on the GSM Green platform.

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