TT&A has acted for IFC and other investors in their subscription to unsecured, unlisted green bonds totalling NPR8.3 billion (USD60 million) to be issued by Nepal’s NMB Bank.
This is the first green bond issuance by any institution in Nepal and the first time that foreign investors have subscribed to Nepalese bonds.
Partners Gautam Saha, Pallavi Meena and Swati Chauhan led the TT&A team, with the assistance of managing associate Siddharth Tandon and associate Daksh Middha.
Pioneer Law Associates counselled IFC on Nepal law matters. The in-house legal team acted for NMB Bank.
The bond proceeds are scheduled to be allocated to loans for climate-related initiatives, including renewable energy projects and electric, hybrid, or plug-in hybrid transportation.
The investment looks at improving and leveraging the development of Nepal’s long-term debt capital markets while advancing climate financing.
