REC rings the London Stock Exchange opening bell

REC becomes first Indian PSU to issue USD Green Bonds

GN Bureau | July 6, 2017


#PSU   #REC   #London Stock Exchange   #USD Green Bonds  

 Rural Electrification Corporation (REC) Limited, a Navratna enterprise, touted as country’s leading financier in the power infrastructure sector, rang the opening bell at the London Stock Exchange on June 30.

REC’s Green Bond is the first to be listed on the International Securities Market segment of LSE, through which REC has raised $450 million for tenure of ten years from the offshore market.
 
The Navranta CPSE launched its maiden USD Green Bonds to become the first Indian PSU corporate to launch Green Bonds denominated in US dollars, against the backdrop of green energy’s enormous potential in the Indian power sector and the Indian government’s thrust on developing this space.
 
The Green Bonds have been certified by the Climate Bond Initiative, London while the ‘Green Bond framework’ formulated by REC has been verified by KPMG. The proceeds will be allocated for financing existing projects including re-financing and new eligible green projects in solar, wind, biomass and small hydro (less than 25MW), subject to availability of sector-specific technical criteria under Climate Bonds Standard.
 

Comments

 

Other News

Not just politics, let`s discuss policies too

Why public policy matters Most days, India`s loudest debates stop at the ballot box. We can name every major leader and recall every campaign slogan. Still, far fewer of us can explain why a widow`s pension is delayed or how a government school`s budget is actually approved. That

When algorithms decide and children die

The images have not left me, of dead and wounded children being carried in the arms of the medics and relatives to the ambulances and hospitals. On February 28, at the start of Operation Epic Fury, cruise missiles struck the Shajareh Tayyebeh school – officially named a girls’ school, in Minab,

The economics of representation: Why women in power matter

India’s democracy has grown in scale, but not quite in balance. Women today are active participants in elections, influencing outcomes in ways that were not as visible earlier. Yet their presence in legislative institutions continues to lag behind. The Nari Shakti Vandan Adhiniyam was meant to addres

India will be powerful, not aggressive: Bhaiyyaji

India is poised to emerge as a global power but will remain rooted in its civilisational ethos of non-aggression and harmony, former RSS General Secretary Suresh `Bhaiyyaji` Joshi has said.   He was speaking at the launch of “Rashtrabhav,” a book by Ravindra Sathe

AI: Code, Control, Conquer

India today stands at a critical juncture in the area of artificial intelligence. While the country is among the fastest adopters of AI in the world, it remains heavily reliant on technologies developed elsewhere. This paradox, experts warn, cannot persist if India seeks technological sovereignty.

RBI pauses to assess inflation risks, policy transmission

The Reserve Bank of India (RBI) has begun the new fiscal year with a calibrated pause, keeping the repo rate unchanged at 5.25 per cent in its April Monetary Policy Committee (MPC) meeting. The decision, taken unanimously, reflects a shift from aggressive policy action to cautious observation after a signi


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter