Larsen & Toubro (L&T) has raised Rs 5 billion through India's first environmental, social, and governance (ESG) bonds. The funds were mobilised via non-convertible debentures (NCDs) at a 6.35% coupon rate with a three-year maturity. The bonds were listed on the National Stock Exchange (NSE) and issued under the Securities and Exchange Board of India's (SEBI) new ESG and sustainability-linked bond framework. HSBC served as the sole lead arranger for the issuance. As part of the bond terms, L&T has committed to key environmental goals, including lowering freshwater withdrawal intensity and cutting greenhouse gas emissions. These are part of the company's larger sustainability roadmap, aiming for water neutrality by 2035 and carbon neutrality by 2040. Separately, L&T Technology Services (LTTS), a subsidiary of L&T, has secured a USD 50 million, five-year contract from a global energy firm.