On September 24, SberBank acted as an underwriter of irredeemable bonds of Russian Railways totaling RUB 100 mln. This is the first large green bond deal on the domestic debt market. The funds will be used to finance green transport projects.

The Expert RA agency provided an independent assessment saying the bond issue meets the green bond principles (GBP) of the International Capital Market Association (ICMA) and the Russian methodological recommendations for green projects by VEB.RF.

The funds will be used to buy electric locomotives and electric trains for carrying passengers, build and reconstruct railway infrastructure, railway electrification, construction of purification facilities and other goals. All these contribute to decreasing environmental impact, including the reduction of greenhouse gas and pollutant emission.

Alexander Vedyakhin, First Deputy Chairman of the Executive Board, SberBank:

'The issuance of Russian Railways bonds has become the first largest market placement of green bonds on the domestic debt market and became an example for other Russian companies. The highest size of the placement since records began, RUB 100 bln, shows the keen interest of the investors and large development potential of green financing. In its turn, SberBank will keep developing the Russian green financing market. This is one of the priorities of our environmental consciousness. In addition, we can see that the demand for classic green lending products from our customers is high.'

Attachments

  • Original document
  • Permalink

Disclaimer

Sberbank of Russia published this content on 28 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2020 09:34:02 UTC