Top Stories

REC lists $750 million green bonds at GIFT IFSC Stock Exchanges

May 4, 2023

By: BlinkX Research Team

REC Limited has exclusively listed its recently issued Green bonds of $750 million raised under its Global Medium Term Programme of $7 billion at GIFT IFSC Stock Exchanges in a primary listing ceremony held in GIFT IFSC, Gandhinagar.

“This is the largest ever senior USD tranche by an Indian NBFC (largest ever senior Green Bond Tranche by a South & South-East Asian issuer) and first Green Bond issuance by an Indian Company post India’s G20 Presidency”, the Ministry of Power said in a statement. 

Commenting on the occasion, Vivek Kumar Dewangan, CMD, REC Limited, said, “We have consciously decided on the exclusive listing of REC’s recently issued Green Bonds on IFSC Stock exchanges, which have come a long way in their acceptability amongst the global investors. 

This Green Bond issuance reinforces REC’s status as one of the most accomplished and frequent issuers in the international capital markets and is poised to contribute in India meeting its Amrit Kaal commitments towards climate action plan and energy transition with focus on green projects.”

The listing ceremony was attended by Injeti Srinivas, Chairman, International Financial Services Centres Authority (IFSCA), as the Chief Guest, Vivek Kumar Dewangan, Chairman and Managing Director (CMD), REC and Ajoy Choudhury, Director (Finance), REC and other senior officials of India INX and NSE IFSC.

Source: Media reports

You may be interested to know:

REC Ltd share price