India Enters Green Bond Market With $1 Billion Debut Auction
- StanChart expects sale to have a 2-3 basis points ‘greenium’
- India will sell 80 billion rupees of green bonds on Wednesday
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India’s first sovereign green bond will go to auction Wednesday, and policy makers have laid the groundwork to ensure a successful debut.
Authorities have promoted the 80 billion rupee ($984 million) issue to the country’s biggest domestic asset managers, including state-run insurers and pension funds as well as foreign investors. The insurance industry regulator will allow the bonds to count toward insurers’ required infrastructure investments. Banks can use it toward mandatory government holdings, and there’s no limit for foreign buyers.