REC issues green bonds worth USD750 million

REC Limited, under its USD7 billion Global Medium Term Note Programme, has priced and issued USD750 million (5.625 per cent) green bonds.
These bonds represent direct, unconditional and unsecured obligations of the company and will rank pari passu among themselves and all other unsecured obligations of the company. These bonds will be listed on Global Securities Market of India International Exchange and NSE IFSC. The net proceeds from the issue of these bonds will be used to finance, in whole or in part, the eligible green projects. These bonds will mature on April 11, 2028 and all principal and interest payments will be made in US Dollars. The expected settlement date for these bonds is April 11, 2023.