Business

SBI Concludes $1 Billion Syndicated Social Loan Facility

State Bank of India (SBI) today has announced the completion of a $1 billion syndicated social loan facility. This loan is the bank’s inaugural social loan and the first syndicated loan in the past five years.

The deal is the largest ESG (environment, social, and governance) loan by a commercial bank in the Asia Pacific and the second largest globally.

SBI Chairman Dinesh Khara said, “As a responsible and sustainable organization, we are committed to conducting our business operations with the highest standards of Environmental, Social, and Governance (ESG) practices. Issuance of our first social loan embodies our commitment to ESG driven by our belief that our long-term success depends not only on our financial performance but also on our ability to make a positive impact on the environment, on society, and on our stakeholders”.

Finance Minister Nirmala Sitharaman said, “Our regulators are very stringent about governance practices and have kept our markets in prime condition. The Indian banking system is at a comfortable level”.

She further said, “Both SBI and Life Insurance Corporation (LIC) have issued detailed statements with respect to their exposure, and said that their exposure was well within permissible limits”.

The $1 billion facility has been arranged through MLABs, MUFG Bank, and Taipei Fubon Commercial Bank.

MUFG and Taipei Fubon Commercial Bank are the joint social loan coordinators while MUFG is the lead social loan coordinator for this transaction.

“The issuance witnessed overwhelming participation from banks across Taiwan, Japan, China, and the Middle East, ensuring a full subscription”, said the lender.

Also read: Divgi TorqTransfer Systems IPO Opens On March 1

Spriha Rai

Recent Posts

‘In Kabul, A Cat Has More Freedom Than A Woman’: Revisiting Women’s Struggles Under The Taliban

The Taliban’s regime has since imposed over 100 laws restricting women's rights, stripping them of…

4 hours ago

PM Modi’s Gifts: A Glimpse Of India’s Cultural Heritage In Global Diplomacy

These gifts to world leaders reflect the diverse traditions, arts, and crafts of India, emphasizing…

7 hours ago

Dr Rajeshwar Singh Calls For Bold Goals To Make India A Global Power By 2047

Dr Singh stressed the importance of reaching a GDP of $15 trillion by 2047 to…

7 hours ago

Gautam Adani Faces Indictment In US: Legal Expert Vijay Aggarwal Dismisses Immediate Repercussions

Criminal lawyer Vijay Aggarwal weighed in on the charges against Adani. He believes the indictment…

8 hours ago

Adani Group Stocks Recover As Sensex nd Nifty Post Gains

After a major sell-off earlier in the week, Adani Group stocks, led by Ambuja Cements…

9 hours ago

Sensex Soars 1,961 Points, Nifty Gains 557 In Broad-Based Market Rally

A sharp rally in financial stocks and encouraging US labor market data fueled the uptrend.…

9 hours ago