Symbiotics Investments Has Launched a $7.5 M Green Bond in India With Namdev Finvest Private Limited
The proceeds of the Green Bond with Namdev Finvest Private Limited (NFPL), a leading non-banking financial company in Rajasthan, will be fully used towards a four-year, senior secured, local currency loan to NFPL. The bond forms part of the $75 million green basket bond program structured by Symbiotics Investments in partnership with British International Investment (BII): the United Kingdom development finance institution.
NFPL is an initial adopter of green financing products in Rajasthan and envisages to play a catalyst role in the sphere of climate sustainability. The proceeds of this Green Bond will be used to finance electric mobility, renewable energy, and energy efficiency projects.