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

Published on January 08, 2024
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.
SBI raises USD 250 million through Green Bonds to Finance Green 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

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