Government concludes sovereign green bond sale of Rs 160 billion

The government has concluded the sale of sovereign green bonds worth Rs 160 billion, with the second tranche raising Rs 80 billion. The second tranche included Rs 40 billion in bonds with a five-year tenor and a similar amount with a 10-year tenor. The five-year bond yielded 7.25 per cent while the 10-year bond yielded 7.34 per cent. The Reserve Bank of India set the cut-off yields for the two bonds at 7.23 per cent and 7.29 per cent respectively. On January 25, 2023, the first tranche of India’s debut sovereign green bonds worth Rs 80 billion was auctioned. The first instalment raised a marginally higher amount than the second.