Srinagar: HDFC Bank Limited announced that it has raised $ 300 million through its first-ever sustainable finance bond issue. This is part of an overall raise of $ 750 million through Regulation S Bonds. While $ 300 million has been raised for a tenure of three years with a 95 basis points spread over the US Treasury, another $ 450 million has been raised for a tenure of 5 years, with a spread of 108 basis points over the US Treasury. The proceeds of the sustainable finance bond will be utilized for funding green and social loans under sustainable finance while the rest of the proceeds will go towards financing general banking activities. ”The funds raised through the sustainable finance bonds will be prioritized for lending towards electric vehicles, SMEs, and affordable housing. We are strongly committed to building a green and social portfolio even as we continue adhering to the Bank’s risk philosophy, ” said Arup Rakshit, Group Head-Treasury, HDFC Bank. The bonds will be listed on India International Exchange (India INX) in GIFT IFSC. The paper was rated Baa3 (stable) by Moody’s and BBB- (stable) by S&P. The bank had mandated Barclays, BofA Securities, J.P. Morgan, MUFG and Standard Chartered Bank as Joint Global Coordinators and Joint Lead Managers. Share this:PostWhatsAppTelegramTweetEmailLike this:Like Loading... Post navigation Div Com for acquisition of structures to eliminate bottlenecks from city roads DC Srinagar holds Mega Public Grievance Redressal Camp at Bakshipora-Tengpora Eidgah
