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Indian Power Finance lists USD-400m green bond in London

Expat Capital / All Rights reserved

November 29 (Renewables Now) - Indian Power Finance Corporation (PFC) today listed a 10-year green bond on the London Stock Exchange’s new International Securities Market, thus raising USD 400 million (EUR 338m).

PFC will invest the proceeds in renewable energy and energy efficiency projects across India. “The bond issuance allows PFC to access a new offshore investor base and also diversify its funding sources,” chairman Rajeev Sharma said in a press statement.

The Climate Bonds Initiative-certified instrument is paying a 3.75% semi-annual coupon.

This is the seventh green bond issued on the LSE this month, the bourse operator said, adding that in total these bonds have raised more than USD 3.2 billion in November 2017 alone.

The table below gives more details about the other six green bonds.

Name of green bond issuer Raised sum Date of listing
Tideway GBP 250m November 29
Ørsted A/S EUR 750m November 24
Fingrid EUR 100m November 23
Westpac EUR 500m November 22
Toyota Motor Credit EUR 600m November 21
Barclays Plc EUR 500m November 6

A total of 21 green bonds have been listed in London from the start of the year, raising USD 8.7 billion. This compares to 14 listings for a total of USD 5.7 billion in 2016.

Overall, 59 green bonds are now listed in London after raising more than USD 19.5 billion in aggregate terms across seven currencies.

(USD 1.0 = EUR 0.844)

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