Sagarmala Finance to issue India's first ever blue bond
Sagarmala Finance plans to raise 10 billion rupees via India's first blue bond. The lender will fund maritime projects and address asset-liability mismatches.
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Sagarmala Finance Corporation will issue India's first blue bond to raise 10 billion rupees ($105.08 million) for maritime infrastructure. The state-owned lender follows Bank of China and Seychelles in tapping the $15 billion global blue debt market. The issuance aims to fix an asset-liability mismatch between 3.5-year borrowing and 12-year lending cycles.
