SBI raises USD 250 million through Green Bonds to Finance Green Projects

Current Context: On 4th January 2024, The State Bank of India (SBI) has indeed raised USD 250 million through the issuance of Green Notes to fund sustainable projects.

• This successful placement is part of SBI’s USD 10 billion medium-term note program.
• The Green Notes, which are senior unsecured floating rate notes, were issued on a floating rate basis of 1.20% above the Secured Overnight Financing Rate (SOFR) and have been listed on the India International Exchange.
• The proceeds will be allocated to eligible green projects according to the Bank’s Environmental, Social, and Governance (ESG) Financing Framework.
• The issuance of these green bonds is a step towards building up a green portfolio.
• The bonds will mature on December 29, 2028.

Question:

Q.1 What is the amount that SBI has raised through Green Bonds?
a. USD 150 million
b. USD 250 million
c. USD 350 million
d. USD 450 million