REC Rings the LSE Opening Bell

NEW DELHI: REC become first Indian PSU to issue USD Green Bonds; Raises USD 450 Million from International Markets. 

 

REC Limited rang the opening bell at the famed London Stock Exchange on June 30. REC’s Green Bond is the first to be listed on the International Securities Market segment of LSE. The bonds have been issued at a yield of 3.965 per cent. 

 

The Green Bonds have been certified by the Climate Bond Initiative, London while the ‘Green Bond framework’ formulated by REC has been verified by KPMG. The proceeds will be allocated for financing existing projects including re-financing and new eligible green projects in solar, wind, biomass and small hydro (less than 25MW), subject to availability of sector-specific technical criteria under Climate Bonds Standard.