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

How about flagging candidates with criminal past on ballot?

The concept of the ‘Rule of Law’ is the basic structure of our constitution. It becomes imperative to observe the rule of law in order to run the country according to the constitutional provisions. However, in reality, often politicians with criminal records get elected and even become part of

Advocating for Cities Where the Poor and Women Count

The Citymakers: How Women Are Building a Sustainable Future for Urban India, published by Hachette India this month, narrates the genesis and journey of the Mahila Housing SEWA Trust (MHT), set up in 1994 to respond to t

‘Media worst affected with massive job losses’

Coming down heavily on the government for economic de-growth and job losses, Congress national spokesperson Supriya Shrinate has said that even before the Covid pandemic struck, the economy  had been falling down for eight consecutive quarters. The former journalist said that while the

Covid-19: Maintain caution, say new MHA Guidelines

The ministry of home affairs (MHA) on Wednesday issued an ‘Order with Guidelines for Surveillance, Containment and Caution’, effective for the month of December, noting that “to fully overcome the pandemic, there is need to maintain caution and to strictly follow the prescribed containmen

Lakshmi Vilas Bank to be amalgamated with DBS Bank India

The scheme of amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL) has been approved by the union cabinet on Wednesday. On November 17, to protect depositors’ interest and in the interest of financial and banking stability, on RBI’s application und

Changing landscapes of govt schools in rural India

Education is one of the primary requisites that contribute to the holistic development process of self and society. Article 21A of the Constitution considers “free and compulsory education of all children in the age group of six to fourteen years as a Fundamental Right.” In India, the majority

Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter