Yen Denominated Green Bonds

About the Yen Denominated Green Bonds:

• It is REC Limited’s eleventh venture into the international bond market and inaugural Yen Bond issuance, which is also the first Yen Green Bonds issuance by any Indian PSU.
• Time period: 5-year, 5.25-year and 10-year bonds issued at yield of 1.76%, 1.79% and 2.20% respectively
• It is the largest ever Euro-Yen issuance in South and South East Asia.
• It is the largest Yen-denominated issuance from India.
• Largest non-sovereign Yen-denominated issuance ever from South and South East Asia.
• The transaction witnessed interest from both Japanese and international accounts, with the number of orders from each at 50%, international allocation being one of the highest for any other Indian Yen deal.
• These bonds will be rated Baa3/BBB–/BBB+ (Moody's/Fitch/JCR) and will be listed exclusively on Global Securities Market of India International Exchange (India INX) and NSE IFSC in GIFT City, Gandhinagar, Gujarat.

Key facts about REC Limited

• REC Limited (formerly Rural Electrification Corporation Limited) is a Central Public Sector Undertaking under the Ministry of Power involved in financing projects in the complete power sector value chain from generation to distribution.
• It is registered with the RBI as a Non-Banking Finance Company (NBFC), a Public Financial Institution (PFI) and an Infrastructure Financing Company (IFC).