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SBI double listing of green bonds on Indian INX and Luxembourg stock exchange

 


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oi-Sneha Kulkarni

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The State Bank of India (SBI) issued $ 650 million green bonds on the India International Exchange (India INX) and the Luxembourg Stock Exchange (LuxSE) on November 22.

The double listing, which coincided with World Investor Week, corresponded to this year’s topic of “sustainable finance,” according to the government agency, the Authority for International Financial Services Centers (IFSCA).

SBI double listing of green bonds on Indian INX and Luxembourg stock exchange

On November 19, 2020, India INX, the international arm of the Bombay Stock Exchange (BSE), signed a Memorandum of Understanding with the Luxembourg Stock Exchange for cooperation in financial services. This joint listing of green bonds is the first step in this direction.

“With this double listing, we have taken the first step towards our cooperation with the Luxembourg Stock Exchange (LuxSE) with the common goal of deeply benefiting investors and issuers in general”, said Shri V. Balasubramaniam, Managing Director and CEO from India INX. the event and the subsequent list.

On this unique occasion of Global Investor Week, we are focusing on the theme of sustainable finance, and the SBI Green Bond listing is an important step towards that goal. We will strive to develop a green corridor with Luxembourg, allowing Indian issuers to immediately qualify for a double listing on LuxSE, allowing them to attract investors from Europe and around the world. India INX has now established itself as the market leader.

GSM Green, a platform for raising capital and trading green, social and sustainable bonds, was launched by India INX in 2019. India INX platform was established in accordance with the principles of green bonds and the ICMA’s Climate Bonds initiative, making it an investment platform for international investors.

The GSM platform has established itself as the preferred location for the listing of international issues. Global Securities Market has to date established $ 58 billion in MTN programs and $ 33 billion in bond issues, including $ 4.3 billion in issues published on the GSM Green platform.

Article first published: Tuesday, November 23, 2021, 10:24 a.m. [IST]

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