State-owned non-banking finance firm REC Ltd has announced that it has issued green bonds worth USD 750 million under its Global Medium Term Note Programme.
The bonds will mature on April 11, 2028, and all principal and interest payments will be made in US dollars.
The bonds are unsecured obligations of the company and rank pari passu among themselves and other unsecured obligations of the company.
The bonds will be listed on the Global Securities Market of India International Exchange (India INX) and NSE IFSC.
The proceeds from the issuance of the bonds will be utilized to finance eligible green projects in accordance with the REC Limited Green Finance Framework and the External Commercial Borrowings guidelines and directions of the Reserve Bank of India.
The expected settlement date for the bonds is April 11, 2023.
