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

REC Limited declared a successful fundraising of approximately Rs 35 billion through the green bonds’ issuance. Under its global medium-term notes programme of $10 billion, the company issued its first set of green bonds totaling Rs 35 billion with maturities of 5 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, RBI’s external commercial borrowings 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 2.20 per cent, respectively.