Rupee-denominated Social Bonds
Recently, the National Bank for Agriculture and Rural Development (NABARD) issued India’s first ‘AAA’ rated Indian Rupee-denominated Social Bonds.
The bonds issued privately to eligible institutional investors got listed on the Bombay Stock Exchange (BSE) on September 29, 2023.
- The bonds of five-year tenure were issued privately to eligible institutional investors.
- They are redeemable, taxable, non-convertible, non-priority sector, unsecured, and social securities of face value Rs.1 lakh each.
- The base issue size of the social bonds was Rs.1,000 crore, with an option to retain oversubscription up to Rs. 2,000 crore, thereby aggregating up to Rs. 3,000 crore.
- The bonds have been rated AAA rating by ....
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