IndiaMART InterMESH Limited Announces 12M FY24 (Full Year) and Q4FY24 (Fourth Quarter) Ending March 31, 2024 - Results-GJEPC innovNXT I Forty Under 40 - Next Gen Leadership Summit Witnesses Young Leaders Transforming The Business Landscape and Driving Growth-TBO TEK LIMITED IPO OPENS ON 8 May, 2024 PRICE BAND SET AT Rs. 875 TO 920 PER EQUITY SHARE-आधार हाउसिंग फाइनैंस लिमिटेड का आईपीओ 8-10 मई तक, 3,000 करोड़ जुटाएगी-Airbnb introduces Icons— Bollywood Star Jahnvi Kapoor opens the door to her legendary, never-before-seen family home in Chennai-AADHAR HOUSING FINANCE LIMITED IPO OPENS ON MAY 8, 2024 PRICE BAND SET AT Rs. 300 TO 315 PER EQUITY SHARE-महाराष्ट्र दिवस पर कालबादेवी में ओशो समारोह 'ओशो के अनुज डॉक्टर स्वामी शैलेंद्र सरस्वती' और 'मां अमृत प्रियाजी' की उपस्थिति में ओशो का ध्यान प्रयोग और प्रवचन होगा-Dr L H Hiranandani Hospital Launches Advanced Robotic System for Knee Replacement Surgeries-OSHO Meditation and Discourse to be hosted on 1st May at Sojat Swarna Bhawan, Kalbadevi, Mumbai In the gracious presence of Dr. Swami Shailendra Saraswati (OSHO’S Anuj) and Maa Amrut Priya-Lilavati Kirtilal Mehta Medical Trust Board Has Exposed A Major Financial Fraud Amounting Around Rs. 500 Crores, Making It A Serious Medical Scam

REC Limited successfully issued inaugural Yen Denominated Green Bonds aggregating to JPY 61.1 Billion

GURUGRAM, 12 JANUARY, 2024 (GPN): REC Limited, a Maharatna CPSE under the Ministry of Power, announced that it has successfully issued its inaugural JPY 61.1 billion 5-year, 5.25-year and 10-year Green bonds issued under its US$ 10 billion Global Medium Term Notes Programme. Proceeds from the issue of the Bonds will be applied to finance the Eligible Green Projects in accordance with the Company’s Green Finance Framework, RBI’s ECB Guidelines and the approvals granted by it from time to time.

Salient features of the transaction

▪       REC Limited’s eleventh venture into the international bond market and inaugural Yen Bond issuance which is also the first Yen Green Bonds issuance by any Indian PSU

▪       5-year, 5.25-year and 10-year bonds issued at yield of 1.76%, 1.79% and 2.20% respectively

▪       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 witnessed interest both from Japanese and international accounts with number of orders from each at 50%, international allocation being one of the highest for any other Indian Yen deal.

Commenting on the occasion, Mr. Vivek Kumar Dewangan, IAS, Chairman & Managing Director, REC Limited said, ”The journey towards India’s energy transition demands a visionary approach to financing that aligns with our commitment to sustainable development towards a cleaner and greener energy landscape. REC stands resolute in its pledge to promote green and clean energy through this Green issuance. As a frequent issuer in the international debt capital markets, we are always in the lookout to tap new markets and further diversify our funding sources. We are delighted to successfully price our inaugural Euro-Yen Green bonds, which reaffirms REC’s position as an established issuer with deep access to global funding, while maintaining the overall cost of funding lower than the industry standards.

The notes will be rated Baa3/BBB–/BBB+ (Moody’s/Fitch/JCR) and will be listed exclusively on Global Securities Market of India International Exchange (India INX) and NSE IFSC in GIFT City, Gandhinagar, Gujarat. DBS Bank, Mizuho, MUFG, and SMBC Nikko are the joint lead managers for the issue.Ends

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.

Be the first to comment on "REC Limited successfully issued inaugural Yen Denominated Green Bonds aggregating to JPY 61.1 Billion"

Leave a comment

Your email address will not be published.


*