The Export-Import Bank of India sold a $500 million five-year green bond late on Tuesday, buoyed by growing regional investor appetite for a scarce debt instrument targeting a good cause.
Rated Baa3BBB-, the Reg S-only offering priced at US Treasuries plus 147.5 basis points, which is 17.5bp tighter than its initial price guidance area, according to a term sheet seen by FinanceAsia. The bond has a coupon of 2.75%.
Part of a $6 billion medium-term note programme, the proceeds raised by the bond will be used to fund new and existing eligible green projects in countries including, but not limited to, Bangladesh...
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