Yes bank launches Rs 500 cr Green Infrastructure Bond
Updated: Feb 16, 2015 06:01:04pm
New Delhi, Feb 16 (KNN) Yes Bank will raise Rs 500 crore plus greenshoe via issue of India's First ever Green Infrastructure Bonds. The bonds are for a tenor of 10 years.
“The amount raised will be used by Yes Bank to finance Green Infrastructure Projects in Renewable Energy and Energy Efficiency Projects including Solar Power, Wind Power, Biomass, and Small Hydel Projects,” said India’s fourth largest private sector bank.
KPMG in India will be providing the Assurance Services annually, on the use of proceeds in line with the Green Bond principles.
“The Bond issue comes on the back of a record USD 1.2 billion capital raised by Yes Bank in 2014-15 through multiple transactions including a USD 500 million funding in May 2014, USD 422mn Syndicated Loan in October 2014 and USD 200 million Loan from Asian Development Bank in December 2014. In January 2015, YES BANK also signed an MoU of USD 220 million with OPIC, the US Government's Development Finance Institution and Wells Fargo to explore financing to - MSMEs,” it said.
At the first Renewable Energy Global Investors Meet and Expo hosted by the ministry of New and Renewable energy, Yes Bank was the first bank to have a commitment of funding 5000 MW of renewable energy projects. The bank has also made commitment of funding clean energy projects at the United Nations Climate Change Summit, 2014. (KNN/ST)
“The amount raised will be used by Yes Bank to finance Green Infrastructure Projects in Renewable Energy and Energy Efficiency Projects including Solar Power, Wind Power, Biomass, and Small Hydel Projects,” said India’s fourth largest private sector bank.
KPMG in India will be providing the Assurance Services annually, on the use of proceeds in line with the Green Bond principles.
“The Bond issue comes on the back of a record USD 1.2 billion capital raised by Yes Bank in 2014-15 through multiple transactions including a USD 500 million funding in May 2014, USD 422mn Syndicated Loan in October 2014 and USD 200 million Loan from Asian Development Bank in December 2014. In January 2015, YES BANK also signed an MoU of USD 220 million with OPIC, the US Government's Development Finance Institution and Wells Fargo to explore financing to - MSMEs,” it said.
At the first Renewable Energy Global Investors Meet and Expo hosted by the ministry of New and Renewable energy, Yes Bank was the first bank to have a commitment of funding 5000 MW of renewable energy projects. The bank has also made commitment of funding clean energy projects at the United Nations Climate Change Summit, 2014. (KNN/ST)
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