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Description
REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a prominent NBFC, received the prestigious Best Green Bond - Corporate Award from The Asset Triple A Awards for Sustainable Finance. This award demonstrates REC's dedication to sustainable finance and environmental sustainability.
Milestone Achievement: USD Green Bonds
In April 2023, REC issued USD Green Bonds worth $750 million, becoming the first from India since assuming the G20 Presidency. This issuance, the largest Senior Green Bond Tranche by a South or South-East Asian issuer, drew worldwide praise.
Pricing And Reception
Investors responded favorably to REC's USD Green Bonds, which were priced at a minimum new issue premium of 7.5 basis points, demonstrating the company's expertise in financing solutions and climate change mitigation.
Chairman And Managing Director's Perspective
Shri Vivek Kumar Dewangan, Chairman and Managing Director of REC Limited, expressed his joy with the award, confirming REC's commitment to a greener future. He emphasized REC's recent success in pricing Euro-Yen Green Bonds, highlighting its leadership in Infrastructure Financing and Renewable Energy.
The Asset Triple A Awards: Recognize Excellence
The Asset Triple A Awards are well-known for recognizing firms who excel in their respective fields. With a history spanning two decades, these awards represent exceptional industry intelligence and reward best-in-class institutions and transactions. The Asset's board of editors oversees the rigorous evaluation procedure, which ensures that deserved candidates are selected.
Leading The Way In Sustainable Finance
As a Maharatna Central Public Sector Enterprise under the Ministry of Power, REC continues to set the standard for promoting environmental sustainability and supporting government flagship schemes. With a sizable loan book and an impressive net worth, REC Limited continues at the forefront of promoting sustainable finance and generating good change in the power infrastructure sector.
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