New Delhi (03.05.2023): REC Limited has undertaken an exclusive listing of 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 on May 3, 2023.

 

The listing ceremony was graced by Injeti Srinivas, Chairman, International Financial Services Centres Authority (IFSCA) as the Chief Guest in the presence of Vivek Kumar Dewangan (IAS: 1993: MN), Chairman and Managing Director (CMD), REC and Ajoy Choudhury, Director (Finance), REC and the officials of India INX and NSE IFSC.

 

Dewangan 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.”

 

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 issue saw an over-subscription of approximately 3.5 times from 161 investors with active participation from quality accounts. Investors from across the globe participated in the issue with Asia Pacific (APAC) 42%, Europe, Middle East & Africa (EMEA) 26% and the US 32%. Over 87% of the transaction in the issue has been allocated to Fund Managers, Asset Managers and Insurance Companies.