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

Before India voted, the framers worried about the referee

“We are making a Constitution forever and not only for today.” Shibban Lal Saksena said this in the Constituent Assembly on June 15, 1949. He was warning that a ruling party might one day choose a loyalist to run India’s elections. Seventy-seven years later, the Supreme Court is wrestli

Delhi moves to real-time traffic management

The Cabinet Committee on Economic Affairs (CCEA), chaired by prime minister Narendra Modi, has approved implementation of the ITMS Project by Delhi Police at an estimated cost of Rs.1,789.52 crore, inclusive of taxes. The project will cover 42 identified traffic corridors and will be implemented in three

MDR on UPI: Can sustainability come without weakening the network?

The extraordinary transaction volumes and value (₹29.82 Lakh crore in August 2026 alone) of the Unified Payments Interface (UPI) have made it not only an Indian success story, but a global one. In 2024, UPI accounted for nearly 49% of the world’s real-time payment transaction volume, with more th

The Xi-Trump summit: The unending rivalry

Diplomacy is akin to an art, wherein the summitry, conflict resolution and negotiations form apt constituents of the entire context of deal making and “playing for keeps” in the international arena. The Xi-Trump summit in Washington last week, in which the American president broke all conside

“Indians, yet treated like outsiders”

Moving to Delhi-NCR for education can be an exciting experience for students from Northeast India. It gives us a chance to meet new people, experience a different culture and become more independent. But living away from home also comes with challenges that people who have not experienced them may not al

Import duty on major edible oils cut

The government has reduced the Basic Customs Duty (BCD) on major imported crude edible oils with a view to moderating domestic edible oil prices, providing relief to consumers and mitigating inflationary pressures arising from the sharp increase in international edible oil prices.  

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter