Symbiotics Investments launched a Green Bond with Namdev Finvest Private Limited (NFPL), a leading non-banking financial company in Rajasthan, India.
The Green Bond proceeds will be fully used towards a 4-year, senior secured, local currency loan to NFPL. The bond forms part of the USD 75 million green basket bond program structured by Symbiotics Investments in partnership with British International Investment (BII): the United Kingdom development finance institution.
NFPL is an initial adopter of green financing products in Rajasthan and envisages to play a catalyst role in the sphere of climate sustainability. The proceeds of this Green Bond will be used to finance electric mobility, renewable energy, and energy efficiency projects.
Prashant Bhardwaj, Symbiotics Investments Regional Manager for South Asia said: “This Green Bond is a confirmation of Symbiotics Investments strategy to make sustainability, social and green bonds accessible for smaller issuances in emerging and frontier markets. The issuance of this bond is fully aligned to our mission to foster sustainable development in emerging and frontier economies, and we are excited to nurture and grow this segment of the green bond market even further”.
Jitendra Tanwar, Namdev Finvest Pvt Ltd Managing Director and CEO, stated: “We deeply value the commitment from Symbiotics Investments to provide dedicated resources for climate efficient financing. This comes at the right time, as we, at Namdev, are increasing our participation in the climate focused products”.
About Symbiotics Investments
Symbiotics is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Since 2005, Symbiotics Investments has originated over 7,100 investments representing more than USD 7.5 billion for 541 companies in 94 countries. symbioticsgroup.com
About Namdev Finvest Private Limited
Namdev Finvest Private Limited is a Rajasthan-based non-banking finance company (systematically important non-deposit taking finance company). Founded in 2013 by a first generation entrepreneur: Jitender Tanwar, Namdev has rapidly established itself as one of the leading NBFCs in the rural and semi urban MSME market in the North western region of India. At present, it is working in 5 states with around INR 4 billion (USD 49 million) of loan portfolio. By keeping in mind vision and mission of the company, Namdev extends helping hands by providing financial assistance to social and economic betterment in the form of MSME loans, loans to farmers, vehicle loans, solar loans and loans to women entrepreneurs. Apart from social and economic development, Namdev is moving towards offering climate efficient products for a more sustainable future. namfin.in
For more information, contact:
Samy Derradji, Corporate Communication Manager, Symbiotics
Jitendra Tanwar, Managing Director and CEO, Namdev Finvest Private Limited