L&T Infrastructure Finance Co. Ltd who recently issued green bonds were purchased by International Finance Corp (IFC), a member of the World Bank Group for Rs667 crore ($103 million)., this was the first sale after the Securities and Exchange Board of India (Sebi) on 30 May notified rules for issuing green bonds.
L&T Infrastructure Finance is a leading financier to the renewable sector and this green bond subscription will serve as a catalyst for corporates to issue green bonds and provide the impetus for financiers to stay invested for a longer-term, which is essential for long-gestation and capital intensive infrastructure projects.
This partnership with IFC will further diversify L&T’s funding profile and demonstrate their strength in project appraisal and risk assessment capabilities for renewable energy lending.
