• Publish Your article
  • Editorial Policy
  • About Us
  • Contact
  • Advertise
Thursday, March 30, 2023
  • Login
No Result
View All Result
Birmingham Times
  • Home
  • UK News
  • Politics
  • Business
  • Entertainment
    • All
    • Sports
    Teenage wonderkid to snub huge transfer to Man Utd or Chelsea after fears over lack of first-team football

    Teenage wonderkid to snub huge transfer to Man Utd or Chelsea after fears over lack of first-team football

    What is a Grand Slam and does it have different meanings in golf, rugby union and tennis?

    What is a Grand Slam and does it have different meanings in golf, rugby union and tennis?

    Aldi fans racing to nab their latest beauty dupes – including a double for a popular Tom Ford scent that’s £204 cheaper

    Aldi fans racing to nab their latest beauty dupes – including a double for a popular Tom Ford scent that’s £204 cheaper

    Breaking Barriers: We Run The World Female DJ Agency Mission to Champion Female DJ Talent

    I’m a rugby cult hero but now I save sheep and chickens from deadly snakes when I’m not on reality TV

    I’m a rugby cult hero but now I save sheep and chickens from deadly snakes when I’m not on reality TV

    Who is Courtney Black and what is her net worth?

    Who is Courtney Black and what is her net worth?

    Wales 10-20 England – Six Nations LIVE RESULT: Lawrence crosses line as England pick up crucial win – reaction

    Wales 10-20 England – Six Nations LIVE RESULT: Lawrence crosses line as England pick up crucial win – reaction

    Rugby team without win all season lose 190-0 but gain British record

    Rugby team without win all season lose 190-0 but gain British record

    Wales 10 England 20: Borthwick’s side capitalise on strike chaos to grind out win in sloppy Six Nations clash

    Wales 10 England 20: Borthwick’s side capitalise on strike chaos to grind out win in sloppy Six Nations clash

  • Lifestyle
    • All
    • Fashion
    • food
    • Health
    • Travel
    Subway fans mortified after seeing how their rotisserie chicken & tuna mayo are made – some say Gordon Ramsay would flip

    Subway fans mortified after seeing how their rotisserie chicken & tuna mayo are made – some say Gordon Ramsay would flip

    All you need to know about the Ulez vehicle scrapping scheme – how it works and check if you’re eligible

    All you need to know about the Ulez vehicle scrapping scheme – how it works and check if you’re eligible

    I’m an Aldi addict but headed to M&S instead –  the bargains blew my mind and the fruit and veg was seriously impressive

    I’m an Aldi addict but headed to M&S instead – the bargains blew my mind and the fruit and veg was seriously impressive

    The world’s best airports have been announced for 2023

    The world’s best airports have been announced for 2023

    I’m a psychologist and this is what your fave supermarket says about you – from ‘spontaneous’ Aldi to routine-loving M&S

    I’m a psychologist and this is what your fave supermarket says about you – from ‘spontaneous’ Aldi to routine-loving M&S

    Which train lines are affected by the strikes today?

    Which train lines are affected by the strikes today?

    I’m a savvy shopper, Food Warehouse is like Iceland but better – they have things I can’t get in Tesco & the best crisps

    I’m a savvy shopper, Food Warehouse is like Iceland but better – they have things I can’t get in Tesco & the best crisps

    The best Nordic slopes to visit outside ski season

    The best Nordic slopes to visit outside ski season

    I lost my wife & baby in just 30 minutes – I was so excited to start a family with them, my world’s destroyed

    I lost my wife & baby in just 30 minutes – I was so excited to start a family with them, my world’s destroyed

    I compared a shop at M&S and Tesco to see if it’s as reasonable as everyone says, I didn’t expect the results at all

    I compared a shop at M&S and Tesco to see if it’s as reasonable as everyone says, I didn’t expect the results at all

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Health
  • Opinion
  • Tech
  • Science
  • Travel
  • Real Estate
  • Sports
  • More
    • Crypto
    • Press Release
Birmingham Times
No Result
View All Result
Home Asian Business

India Exim Bank Lists First 10-Year Sustainability Bond on India INX, Gifty IFSC

by Chandler
March 5, 2023
Reading Time: 5min read
0
SHARES
Share on FacebookShare on TwitterShare on Reddit

India EXIM Bank’s first USD 1 billion 10-year sustainable bond under its Environment Social Governance (ESG) framework was listed on March 3, 2023 at India INX, Gifty IFSC by the bank’s Managing Director Harsha Bangari and Chief Financial Officer Tarun Sharma. India Exim Bank lists its maiden benchmark-sized 10-year Sustainability Bond at India INX-GIFT IFSC

On this occasion, the Secretary of the Financial Services Department under the Ministry of Finance of the Government of India Dr. Vivek Joshi and Chairperson of International Financial Services Centers Authority IFSCA Injeti Srinivas were present.

On January 10, 2023, India Exim Bank issued its first USD 1 billion 10-year sustainability bond in 144A/Reg-S format under its ESG framework. With this issue, India Exim Bank has become the first Indian issuer to open the market for dollar and sustainability bond issuances in the year 2023.

A strong start to the year and constructive market momentum saw India Exim Bank capitalize on strong demand and tightened intraday execution and initial price guidance by 30 bps, which ended at CT10+190 bps and at the fair value point on the curve.

In terms of geographical distribution, the distribution of bonds was symmetrical. 39% was distributed in EMEA region, 32% in APAC and 29% in USA. The bonds were distributed to high quality investors, with 70% to funds and asset managers, 12% to banks and 10% to sovereign wealth funds. It was then given to Insurance/Pension Corporations, Private Banks and others.

On this occasion, the Secretary of the Financial Services Department under the Ministry of Finance of the Government of India Dr. Vivek Joshi said, “The Government of India’s vision for GIFT-IFSC is in line with the vision of a self-reliant India, making India a global financial hub.

Today, the listing of India Exim Bank’s first-ever $1 billion 10-year sustainability bond is itself a testament to our commitment to strengthening India INX and GIFT-IFSC’s role in India’s climate action goals.”

IFSCA Chairperson Injeti Srinivas said, “We are delighted to see that India Exim Bank has listed its $1 billion sustainability bond on India INX. The capital raised by the India Exim Bank will be used to finance green and social projects in developing countries, among other things.

Thus, India’s role in accelerating capital inflows and capacity building in the field of sustainable finance in the Global South will be strengthened. This bond issue is in line with IFSCA’s objective of raising sustainable finance through GIFT IFSC.”

India EXIM Bank Managing Director Harsha Bangari said, “We are delighted to open up the debt market to Indian issuers with our first benchmark sized sustainability bond under the ESG framework. This issue demonstrates our strong commitment towards sustainable financing both in India and its partner developing countries and aligns us with the best practices in the world.

India INX is an important platform for our bonds and we are proud to say that India Exim Bank is jointly the largest bond issuer to list on India INX. Today’s ceremony is really special for us as we are holding a listing ceremony at India INX GIFT City for the first time.”

India EXIM Bank Chief Financial Officer Tarun Sharma said, “India EXIM Bank is actively monitoring the market for issuance opportunities. The bank’s quasi-sovereign nature, EMBIG index recognition of the bond and commitment towards sustainable financing attracted strong interest from well-known investors and the peak order book was 3.7 times.

Finally, nine months after its issuance in March 2022, India Exim Bank’s 2033 Sustainability Bond has reopened the G3 market for Indian issuers. India EXIM Bank has continuously worked towards expanding its ESG initiatives and has maintained transparency and dialogue with its stakeholders.

With facilities comparable to leading international financial centres, we look forward to continuing our listing on India INX and playing an important role in the growth of the exchange.”

Commenting on the listing, Arun Kumar Ganesh, Chief Business Operations and Listing at India INX said, “We are delighted to welcome India Exim Bank’s largest sustainability bond issuance of $1 billion to our exchange.

Gifty IFSC is emerging as the venue of choice to raise capital for sustainability and with strong partners like India Exim Banks who have supported IFSC since the exchange’s inception, we hope that IFSC will emerge as a gateway for raising foreign capital towards green financing and sustainable financing in India.

With this, the total bond amount listed on India INX has reached $50 billion. We congratulate India EXIM Bank for this success and look forward to a very strong line-up of Indian issuers in the current year.”

The net proceeds of the Sustainability Bond will be used for approved projects under the Bank’s ESG framework. The project is aligned with selected green and social categories, including renewable energy, clean transportation, essential services and basic infrastructure, affordable housing and sustainable water and wastewater management. Annual reporting of the use of proceeds received under the Sustainability Bond is subject to external verification.

Barclays, Bank of America, Citigroup, HSBC, JP Morgan, MUFG and Standard Chartered acted as joint lead managers and book runners to the offering. India Exim Bank has been rated ‘BBB- (Stable)’ by S&P and ‘BBB- (Stable)’ by Fitch, same as the Government of India.

.Source

Tags: 10YearbankBondEximGiftyIFSCIndiaINXListsSustainability

Related Posts

Samsung launched Galaxy A54 and A34 with stunning designs and trendy colors

Samsung launched Galaxy A54 and A34 with stunning designs and trendy colors

by Chandler
March 29, 2023
0

Samsung to strengthen 5G leadership in India with Galaxy-Galaxy A54 5G and Galaxy A34 5G demonstrate Samsung's commitment to its 5G-first strategy in India The new smartphones will democratize flagship innovations like...

Customers will not need to go through the KYC process in person to get a SIM card

Customers will not need to go through the KYC process in person to get a SIM card

by Chandler
March 26, 2023
0

Vi facilitates customer onboarding by launching “Self-KYC”, a first in the mobile industry Self KYC process is quite simple, convenient, fast and secure. Through it, SIM activation can be done at any...

DIC India inaugurated its new state-of-the-art manufacturing unit in Gujarat

DIC India inaugurated its new state-of-the-art manufacturing unit in Gujarat

by Chandler
March 23, 2023
0

DIC India Limited, a leading manufacturer of printing inks, innovative packaging solutions and related materials in the country, today inaugurated its state-of-the-art and latest toluene free plant 'Optima' for liquid ink production...

BigBlock Construction started trial run on AAC blocks plant in Palghar, Maharashtra

BigBlock Construction started trial run on AAC blocks plant in Palghar, Maharashtra

by Chandler
March 20, 2023
0

When the plant runs at full capacity Rs. 200 crores per annum revenue is expected. The total investment for the Wada project is around Rs. 65 crore is estimated; The company is...

Adani Wilmar launched Kohinoor Biryani Kit

Adani Wilmar launched Kohinoor Biryani Kit

by Chandler
March 17, 2023
0

Introduced in Hyderabad variant, followed by Lucknowi variant – available in metro cities of Mumbai, Delhi+NCR, Kolkata, Pune, Ahmedabad and Bengaluru Adani Wilmar Limited (AWL), one of India's largest and fastest growing...

IDFC Mutual Fund will be called Bandhan Mutual Fund after rebranding

IDFC Mutual Fund will be called Bandhan Mutual Fund after rebranding

by Chandler
March 14, 2023
0

IDFC Mutual Fund is all set to adopt its new brand identity as Bandhan Mutual Fund on Monday, March 13, 2023. Consequently, the word “IDFC” will be replaced by the word “Bandhan”...

Next Post
South-west is the place to be when it comes to TV – from Beyond Paradise to Poldark

South-west is the place to be when it comes to TV – from Beyond Paradise to Poldark

Popular News

Samsung launched Galaxy A54 and A34 with stunning designs and trendy colors

Samsung launched Galaxy A54 and A34 with stunning designs and trendy colors

14 hours ago
Smallest country in the world, flag-money everything is different

Smallest country in the world, flag-money everything is different

14 hours ago
People in Canada once again protest against the Kovid sanctions

Severe mental symptoms if sudden seizures occur

14 hours ago
People in Canada once again protest against the Kovid sanctions

Bollywood actors will rock the IPL opening ceremony

15 hours ago
Tate Modern visitors left baffled by bizarre ‘work of art’ as tradesman displays his paint-splattered radio

Tate Modern visitors left baffled by bizarre ‘work of art’ as tradesman displays his paint-splattered radio

3 days ago
Labour repeat vow to ban MPs’ second jobs after Matt Hancock and Kwasi Kwarteng demand £10,000 for day’s work

Labour repeat vow to ban MPs’ second jobs after Matt Hancock and Kwasi Kwarteng demand £10,000 for day’s work

3 days ago
How the Daily Mail built an audience of 150,000+ digital subscribers

How the Daily Mail built an audience of 150,000+ digital subscribers

3 days ago
Customers will not need to go through the KYC process in person to get a SIM card

Customers will not need to go through the KYC process in person to get a SIM card

4 days ago
Birmingham Times

All Rights Reserved © Birmingham Times - The Voice of UK

Important Links

  • Publish Your article
  • Editorial Policy
  • About Us
  • Contact
  • Advertise

Follow Us

No Result
View All Result
  • Home
  • Politics
  • UK News
  • Business
  • Science
  • National
  • Entertainment
  • Gaming
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Health
  • Food

All Rights Reserved © Birmingham Times - The Voice of UK

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In