SBI Lists $650 Million Green Bonds on India INX, Luxembourg Stock Exchange

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

World Investor Week (WIW) 2021 will be celebrated from today through November 28.

Last year, in November, India INX, the international arm of BSE, had announced its Memorandum of Understanding with the Luxembourg Stock Exchange (LuxSE) for financial services cooperation, maintaining orderly markets in securities in the respective country, ESG ( environment, social and governance) and green financing in the local market.

This dual listing of green bonds is the first step towards this joint effort, the statement said.

SBI Managing Director Ashwini Kumar Tewari said in the statement: “The 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 enable Indian issuers to automatically qualify for dual listing with LuxSE to attract investors from Europe and the world. “

In 2019, India had unveiled INX GSM Green, a platform exclusively for fundraising and trading in green, social and sustainable bonds.

To date, the global securities market has set up more than $58 billion in MTN (Medium Term Notes) programs. More than $33 billion in bonds have been issued to date, including $4.3 billion in issuance on the GSM Green platform.