Gurugram (08.04.2023): REC Limited announced that it successfully raised $750 million through 5-year 144A/ RegS Green Bonds under its Global Medium-Term Programme of $7 billion. The net proceeds from the issue of the Bonds will be applied to finance, in whole or in part, the eligible green projects in accordance with the approvals granted by the RBI from time to time and in accordance with the ECB Guidelines.
As a frequent issuer in the market and given the relatively stable market backdrop last week, REC decided to capitalize on the environment to carry out an intra-day execution post extensive investor road shows spanning two weeks in different geographies covering Singapore, the UK, and the US.
Vivek Kumar Dewangan (IAS: 1993: MM). CMD, REC Limited, said, “We are very delighted about the successful completion of this transaction which reinforces REC’s status as one of the most accomplished and frequent issuers in the international capital markets. This Green Bond issuance is poised to contribute to India meeting its Amrit Kaal commitments towards climate action plan and energy transition with a focus on green projects.”
REC issues Green Bonds of $750 million of 5-year tenure
By IndianMandarins - 2023-04-08 15:00:00
Gurugram (08.04.2023): REC Limited announced that it successfully raised $750 million through 5-year 144A/ RegS Green Bonds under its Global Medium-Term Programme of $7 billion. The net proceeds from the issue of the Bonds will be applied to finance, in whole or in part, the eligible green projects in accordance with the approvals granted by the RBI from time to time and in accordance with the ECB Guidelines.
As a frequent issuer in the market and given the relatively stable market backdrop last week, REC decided to capitalize on the environment to carry out an intra-day execution post extensive investor road shows spanning two weeks in different geographies covering Singapore, the UK, and the US.
Vivek Kumar Dewangan (IAS: 1993: MM). CMD, REC Limited, said, “We are very delighted about the successful completion of this transaction which reinforces REC’s status as one of the most accomplished and frequent issuers in the international capital markets. This Green Bond issuance is poised to contribute to India meeting its Amrit Kaal commitments towards climate action plan and energy transition with a focus on green projects.”
