RBI Grade BNABARD ESISEBI
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Sagarmala Finance Corporation, India’s first maritime lender, plans to raise funds through the country’s maiden blue bond on 28 September.
Context
What Blue Bonds Are
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- A debt instrument used to finance sustainable water and marine projects
- Including clean water, recycling, shipping, sustainable fishing, ocean energy and mapping
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Important Facts for Examsmost asked
- Greenshoe option — allows the issuer to retain oversubscription beyond the base size, up to a specified limit
- Blue bond — a thematic bond for ocean and water-related projects; the marine equivalent of a green bond
- The world’s first sovereign blue bond was issued by the Republic of Seychelles in 2018, with World Bank support
- Related instruments: green bonds, social bonds, sustainability bonds and sustainability-linked bonds
- India issued its first Sovereign Green Bonds in January 2023, with the proceeds earmarked under the Sovereign Green Bond Framework
- “Greenium” — the yield discount an issuer obtains on a green or thematic bond relative to a conventional one
- SEBI issued a framework for green debt securities, and has proposed norms to curb greenwashing
