The State Bank of India (SBI) announced the completion of a $1 billion syndicated social loan facility. It is the largest Environmental, Social, and Governance (ESG) loan by a commercial bank in the Asia Pacific and the second-largest social loan globally, the bank said.
More About The $1 billion Syndicated Social Loan Facility:
The facility of $1 billion was arranged through MLABs, MUFG bank and Taipei Fubon Commercial Bank Co. Ltd. MUFG and Taipei Fubon Commercial Bank are joint social loan coordinators while MUFG is the lead social loan coordinator for this transaction.
Significance of this syndicated transaction:
This syndicated transaction is significant for SBI and the Indian ESG financing market. It is the bank’s inaugural social loan and the first syndicated loan in the past five years, the bank added. This inaugural ESG transaction underscores SBI’s longstanding commitment to supporting green and social projects in India, the bank said.