REC raises Rs 35 billion through green bonds denominated in Japanese yen

REC Limited declared a successful fundraising of approximately Rs 35 billion through a green bond issuance. Under its global medium-term notes programme of $10 billion, the company issued its first set of green bonds totalling Rs 35 billion with maturities of five years, 5.25 years and 10 years. The funds generated from the bond issuance will be utilised to support eligible green projects in alignment with the company’s green finance framework, the Reserve Bank of India’s external commercial borrowing guidelines, and the approvals periodically granted by the company. The bonds were offered with yields of 1.76 per cent, 1.79 per cent and 2.2 per cent respectively.