HDFC Bank issued a USD 300 million three-year sustainable finance bond in February 2024, its first foray into the labelled sustainable debt market, with proceeds earmarked for electric vehicle financing, loans to small and medium-sized enterprises, and affordable housing projects.
The bond forms part of a broader USD 750 million Regulation S Bond offering and has been listed on the India International Exchange, known as India INX, within the GIFT International Financial Services Centre in Gujarat.
PROCEEDS ALLOCATED ACROSS THREE GREEN AND SOCIAL CATEGORIES
Electric vehicle lending carries an environmental classification.
SME lending carries a social label within HDFC Bank's framework. Affordable housing is also a social category.
"We are strongly committed towards building a green and social portfolio even as we continue adhering to the Bank's risk philosophy," said Arup Rakshit, Group Head – Treasury at HDFC Bank.
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