ADB mobilises Rs 1,250 cr through issuance of green bonds in local market
The Asian Development Bank on Wednesday said it has garnered Rs 1,250 crore (about USD 150 million) through its largest local currency green bond issue so far.
The issue is structured as a 4-year currency linked bond, with a one-time repayment at maturity and carrying a fixed interest rate of 6.72 per cent per year, ADB said in a statement.
The bond is denominated in Indian rupees but settled in United States dollars, with returns to investors indexed to the performance of the Indian currency, it said.
Such bond structures are popularly known as masala bonds in the Indian financial community, it said.
