TIL Desk/Business/New Delhi-Private lender Yes Bank today said it will raise about Rs 330 crore (USD 50 million) by issuing a 7-year term green infrastructure bond to FMO, the Dutch Development Bank, on a private placement basis.”FMO will be investing in Yes Bank’s bonds through FMO’s own sustainable bonds. The definitive agreement was signed today at the fourth edition of FMO’s Future of Finance conference being held in Katwijk, the Netherlands,” Yes Bank said in a release here.
This is FMO’s first investment in a green bond issued by a bank in India. Yes Bank said it will raise the amount to finance green infrastructure, including solar and wind projects. This issuance will be externally assured. An external annual review and monitoring will be undertaken on the use of proceeds in line with the Green Bond Principles 2016, the bank added.
This is Yes Bank’s third such green bond issuance in the last 18 months after its successful maiden issuance of Rs 1,000 crore (USD 160 million) in February 2015 followed by the Rs 315 crore private placement to International Finance Corporation (IFC) in Washington in August 2015.
