Mumbai Capital

Axis Bank unveils India’s first certified green bond on LSE

The bond is certified by the Climate Bonds Standards Board—Photo: Bloomberg  

Axis Bank on Monday raised $500 million at the London Stock Exchange after it unveiled India’s first internationally-listed certified green bond to finance climate change solutions around the world. One of India’s leading private sector capital markets banks opened trading at the London Stock Exchange (LSE) with the bond, which is certified by the Climate Bonds Standards Board.

Axis Bank said the proceeds of the bond will be invested in green energy, transportation and infrastructure projects, reinforcing India’s commitment to produce 175,000 MW of renewable power by 2022.

Nikhil Rathi, CEO of London Stock Exchange and director of International Development, London Stock Exchange Group, said: “London Stock Exchange is a world leader in green bond listings, home to international green finance from India and China. In partnership with the UK government, we remain committed to building London as the premier centre for green bond issuance and green finance and look forward to collaboration with Axis Bank, as it continues to strengthen its presence in the UK.”

He described Axis Bank as a “long standing and distinguished equity issuer” on London Stock Exchange with the latest issuance building on the “far-reaching announcements made during Prime Minister Narendra Modi’s visit strengthening financial ties between the UK and India” last November. This is the first green bond for Axis Bank within its $5 billion Medium Term Note programme, which has also listed entirely on LSE. — PTI

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Printable version | Nov 28, 2020 4:33:49 PM | https://www.thehindu.com/news/cities/mumbai/business/Axis-Bank-unveils-India%E2%80%99s-first-certified-green-bond-on-LSE/article14388988.ece

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