International Finance Corporation IFC, the World Bank’s private lending arm, has raised 3.15 billion rupees $49.2 million in its first green bond in the offshore rupee markets.
The offering was launched with the partial aim of funding India’s fourth-largest private sector lender Yes Bank’s renewable energy- and energy-efficiency projects.
IFC plans to invest proceeds from the issuance in Yes Bank's rupee-denominated bond, which offers a coupon rate of 8.95% over a 10-year maturity, according to two sources familiar with the deal.
Yes Bank offered its maiden green bond in February, a 10-year tenor that priced on February 24, carrying a coupon rate of...
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