REC Limited issues green bonds worth USD 750 million on Apr 3

New Delhi: State-owned REC Limited said in a regulatory filing on Tuesday that under its USD 7 billion Global Medium Term Note Programme, it has priced and issued green bonds worth USD 750 million on April 3. Further, the filing noted that 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.

"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 (India INX) and NSE IFSC. The net proceeds from the issue of these Bonds will be applied to finance, in whole or in part, the eligible green projects, in each case in accordance with the REC Limited Green Finance Framework and the External Commercial Borrowings guidelines and directions of, and the approvals granted by, the Reserve Bank of India from time to time," it added.

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