SMBC sells $500m green bond
Sumitomo Mitsui Banking Corp has raised $500m, through the sale of green bonds, becoming the first Japanese entity to issue the environment-friendly debt instruments in dollar form.  The bank says it will use proceeds from the sale to fund new and existing projects that promote renewables and increase energy efficiency.  

TOKYO -- Sumitomo Mitsui Banking will float green bonds in a first for a Japanese megabank, aiming to diversify its methods of raising foreign currency while capitalizing on investor demand for products providing a social benefit.

Green bonds require the issuer to use the money raised for environmentally friendly investment. SMBC will issue about $500 million in dollar-denominated debt as early as Thursday, with the funds to be put toward financing of solar and other renewable-energy projects.