REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been honored with the prestigious Best Green Bond – Corporate Award at The Asset Triple A Awards for Sustainable Finance. This recognition underscores REC’s commitment to Sustainable Finance and Environmental Sustainability.
Milestone Achievement: USD Green Bonds
In April 2023, REC issued USD Green Bonds worth $750 million, marking a milestone as the first from India post its assumption of G20 Presidency. This issuance, the largest Senior Green Bond Tranche by a South or South-East Asian issuer, received widespread acclaim.
Pricing and Reception
Priced at a minimum new issue premium of 7.5 bps, REC’s USD Green Bonds were well received by investors, showcasing REC’s prowess in Financing Solutions and Climate Change Mitigation.
Chairman & Managing Director’s Perspective
Shri Vivek Kumar Dewangan, Chairman & Managing Director of REC Limited, expressed delight at the award, reaffirming REC’s dedication to a greener future. He highlighted REC’s recent achievement in pricing Euro-Yen Green bonds, further demonstrating its leadership in Infrastructure Financing and Renewable Energy.
The Asset Triple A Awards: Recognizing Excellence
The Asset Triple A Awards are a renowned acknowledgment of organizations excelling in their respective industries. With a history spanning over two decades, these awards reflect unparalleled industry insight and recognize best-in-class institutions and deals. The rigorous adjudication process, overseen by The Asset’s board of editors, ensures the selection of deserving recipients.
Leading the Way in Sustainable Finance
As a Maharatna Central Public Sector Enterprise under the Ministry of Power, REC continues to lead the way in promoting Environmental Sustainability and supporting Government Flagship Schemes. With a substantial Loan Book and impressive Net Worth, REC Limited remains at the forefront of advancing Sustainable Finance and driving positive change in the Power-Infrastructure Sector.