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

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 Gujarat International Finance Tec-City (GIFT) International Financial Services Centre (IFSC) stock exchanges.
This is the largest ever senior USD tranche by an Indian non-banking financial company 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 accounting for 42 per cent, Europe, Middle East and Africa 26 per cent and the US 32 per cent. Over 87 per cent of the transaction in the issue has been allocated to fund managers, asset managers and insurance companies.