In a first, the Reserve Bank of India (RBI) on Friday cancelled the auction of 10-year green bonds as traders refused to pay greenium, said dealers. Greenium signifies the premium investors are willing to pay for green bonds because of their sustainability impact.
Diverging from the pattern of issuing green bonds in the latter half, the government plans to issue green bonds worth 12,000 crore in the first half of the current financial year. The green bonds were planned to be issued in two tranches of ₹6,000 crore each for a period of 10 years.
"The bids were between 7 per cent and 7.06 per cent (yield), which the RBI was not ready to pay," said the treasury head at a private bank. At the time of the auction, the benchmark bond yield was trading at 6.99 per cent.
This story is from the June 01, 2024 edition of Business Standard.
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This story is from the June 01, 2024 edition of Business Standard.
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