Green Bonds Current Affairs - 2019
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The India International Exchange (India INX) has listed the Indian Railway Finance Corporation’s (IRFC’s) green bonds on its debt listing platform-Global Securities Market (GSM).
With this, IRFC green bonds became first debt security to be listed on exchange at International Financial Services Centre (IFSC) in Gujarat’s GIFT city. India INX’s GSM segment is India’s first debt listing platform. It allows raising funds in any currency of choice by both foreign and Indian issuers from investors across the globe.
Indian Railway Finance Corporation
IRFC is finance arm of Indian Railway. It raises financial resources for expansion and running through capital markets and other borrowings. It raises money mainly through financial bonds and from banks and financial institutions. In 2017, IRFC had raised $500 million from 10- year green bond from investors in Asia, Europe and offshore US through listing on the London Stock Exchange (LSE).
Bonds basically are debt instruments which help issuer to get capital while the investors receive fixed income in the form of interest. In case of Green Bonds, the issuer gets capital from the investors only if investment (capital) is being raised to fund green projects relating to renewable energy or emission reductions etc.
India International Exchange (India INX)
Indai-INX is India s first international exchange at IFSC Gujarat International Financial Tech (GIFT) City, Gandhinagar. It is wholly-owned subsidiary of Bombay Stock Exchange (BSE), through its global bourse. It is one of the world’s most advanced and fastest trading technology platforms with turn-around time of 4 micro seconds. It will operate for 22 hours a day allowing international investors and NRIs to trade from anywhere across globe. It trades in equity derivatives, currency derivatives, commodity derivatives including Index and Stocks. It also offers depository receipts and bonds.
Axis Bank has launched India’s first internationally-listed certified green bond to finance climate change solutions around the world at London Stock Exchange (LSE).
The proceeds of the bond will be invested by Axis Bank in green energy, transportation and infrastructure projects. It will play important role in reinforcing India’s commitment to produce 175,000 MW of renewable power by 2022.
The green bonds of Axis Bank were certified by the Climate Bonds Standards Board. It has raised 500 million dollars at the LSE after it launched. This is the first green bond of Axis Bank issued within its 5 billion dollars Medium Term Note (MTN) programme, which has also has been listed entirely on LSE.
What are Green Bonds?
Bonds basically are debt instruments which help issuer to get capital while the investors receive fixed income in the form of interest. In case of Green Bonds, the issuer gets capital from the investors only if the investment (capital) is being raised to fund green projects relating to renewable energy or emission reductions etc.