REC Issues Yen Denominated Green Bonds

  • REC Limited 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 Program.
  • It will be applied to finance the Eligible Green Projects according to its Green Finance Framework, and the RBI’s External Commercial Borrowings.
  • It is the Largest ever Euro-Yen issuance in South and South East Asia.
  • Largest Yen-denominated issuance from India.
  • Largest non-sovereign Yen-denominated issuance ever from South and South East Asia.
  • The transaction contains interest from both Japanese and international accounts, with 50%, international allocation.
  • It will be listed on the Global Securities Market of India International Exchange (India INX) and NSE IFSC in GIFT City, Gandhinagar, and Gujarat.
  • DBS Bank, Mizuho, MUFG, and SMBC Nikko are the joint lead managers for the issue.
Posted in Current Affairs.