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REC lists USD 750 million green bonds at GIFT IFSC Stock Exchanges

REC Limited, the state-run power sector financier, recently held a primary listing ceremony for its recently issued Green bonds of USD 750Ministry of Power million at GIFT IFSC Stock Exchanges. The Green Bonds, which were raised under REC's Global Medium Term Programme of USD 7 billion, saw an oversubscription of approximately 3.5 times from 161 investors, with active participation from quality accounts across the globe.

The Green Bond issuance by REC reinforces its status as one of the most accomplished and frequent issuers in the international capital markets. It is also the largest ever senior USD tranche by an Indian NBFC and the first Green Bond issuance by an Indian Company post India's G20 Presidency. The exclusive listing of REC's Green Bonds on IFSC Stock exchanges signifies its acceptability amongst global investors, according to a statement from

Mr. Injeti Srinivas, Chairperson, IFSCA, expressed his pleasure on REC Limited listing their USD 750 million Green Bonds exclusively on IFSC Exchanges. He said that with this listing, the cumulative ESG labelled bonds listed on IFSC Exchanges have crossed USD 10 billion. He further added that GIFT IFSC is emerging as a gateway to facilitate raising of foreign capital into sustainable projects in India, thereby contributing towards achieving the country's climate change commitments and SDG goals.

The Green Bond issuance by REC is poised to contribute to India meeting its Amrit Kaal commitments towards its climate action plan and energy transition with a focus on green projects. This listing also takes the total bond issuance on IFSC exchanges to USD 51.7 billion plus with the total medium-term notes worth over USD 73 billion, making GIFT IFSC a sustainable finance global hub.

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