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NABARD's Social Bonds: Driving Sustainable Development



  Sep 30, 2023

NABARD's Social Bonds


What Are Social Bonds?

Social bonds are financial instruments issued by governments, corporations, or international organizations to raise capital specifically for projects that will have a positive social impact. The funds raised are designated for social causes such as healthcare, education, poverty alleviation, and environmental sustainability.
 

NABARD's Inaugural Social Bonds

 
Step 1: Issuer

Q1: Who issued the social bonds?

A1: The National Bank for Agriculture and Rural Development (NABARD) is the issuer of the social bonds.
 
 
Step 2: Issue Date

Q2: When were the bonds issued?

A2: The bonds were issued on September 26, 2023.
 
 
Step 3: Bond Size

Q3: What is the total size of the issued bonds?

A3: The total size is Rs 1,040.50 crore.
 
 
Step 4: Unique Features

Q4: What makes these bonds special?

A4: These are India's first externally certified AAA-rated INR social bonds.
 
 
Step 5: Listing Location

Q5: Where will these bonds be listed?

A5: They will be listed on the Bombay Stock Exchange (BSE) on September 29, 2023.
 
 
Step 6: Redemption

Q6: What is the redemption date?

A6: The redemption date for these bonds is September 27, 2028.
 
 
Step 7: Holding Period & Coupon Payments

Q7: How long should the bonds be held and when are coupon payments made?

A7: The bonds should be held for a period of five years. Coupon payments will be made yearly.
 
 
Step 8: Face Value & Issue Size

Q8: What are the face value and issue size of the bonds?

A8: The face value of each bond is Rs 1,00,000. The base issue size is Rs 1,000 crore.
 
 
Step 9: Investor Response

Q9: How well were the bonds received by investors?

A9: The bonds saw an overwhelming response, with a total bid of Rs 8,590.50 crore.
 
 
Step 10: Credit Ratings

Q10: What credit ratings have these bonds received?

A10: These bonds have been rated AAA by CRISIL Ltd and ICRA Ltd.
 
 
Step 11: Purpose

Q11: Why were these bonds issued?

A11: These bonds aim to finance and refinance eligible green and social projects.


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