REC Ltd. Makes History with First Yen Green Bond Issuance by Indian PSU
This is the first Yen green bond issued by an Indian PSU. Proceeds from the bond will be applied to finance eligible green projects as per REC’s Green Finance Framework and RBI guidelines.
![REC Ltd. Makes History with First Yen Green Bond Issuance by Indian PSU](https://www.psuconnect.in/sdsdsd/REC_Makes_History_with_First_Yen_Green_Bond_Issuance_by_Indian_PSU.jpg)
New Delhi: REC Ltd. has issued its inaugural Japanese Yen (JPY) 61.1 billion, 5-year, 5.25-year and 10-year green bonds issued under its US$ 10 billion Global Medium Term Notes Programme. This is the first Yen green bond issued by an Indian PSU. Proceeds from the bond will be applied to finance eligible green projects as per REC’s Green Finance Framework and RBI guidelines.
Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoYThis is a monumental transaction, as it marks the largest Yen-denominated issuance from India. It also made history as both the largest Euro-Yen issuance and the largest non-sovereign Yen-denominated issuance ever in South and South-East Asia. The transaction drew interest from both Japanese and international accounts, with the number of orders from each at 50%.
On this occasion, which marks REC’s eleventh venture into the international bond market, Shri Vivek Kumar Dewangan, CMD, REC Ltd., has remarked that “REC stands resolute in its pledge to promote green and clean energy through this Green issuance.
Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail depositsAs a frequent issuer in the international debt capital markets, we are always in the lookout to tap new markets and further diversify our funding sources. We are delighted to successfully price our inaugural Euro-Yen Green bonds, which reaffirms REC’s position as an established issuer with deep access to global funding, while maintaining the overall cost of funding lower than the industry standards.”
Read Also : India assumes the Chair of Asian Disaster Preparedness CentreNews Must Read
- Karnataka Bank Announced record Q1 Net Profit at Rs. 400.33 CR
- NTPC, BHEL shares soar higher amid JV announcement in Budget 2024
- BEL signs tripartite MoU for manufacture of indigenised ammunition
- Goa Shipyard Limited launched first indigenous P1135.6 Frigate
- Chandan Sinha appointed as Non-Executive Part Time Chairman of RBL Bank
- OIL and Dolphin Drilling signs contract for hiring of Blackford Dolphin
- Cmde D.K. Murali, IN (Retd.) Joins as CMD of BECIL
- Samir Chandra Saxena Appointed as Director (Market Operation) of GRID-INDIA
- MOIL CMD bags Title 'CEO of the Year'
- ONGC sign MoU with GSI to advance geothermal exploration in Ladakh