REC Limited has raised USD500 million through green dollar bonds for renewable energy projects.
The five-year note has a coupon rate of Rs 4.75 per cent per annum, payable semi-annually, with a maturity date of September 27, 2029. In 2024, this marks the first US dollar bond issuance by an Indian public sector enterprise. This issuance is part of the company’s USD10 billion global medium-term program. In line with REC’s Green Finance Framework, the funds raised will be used to finance eligible green projects, adhering to the green bond principles of the Climate Bond Initiative in London and the RBI’s ECB guidelines.