State-owned REC Ltd on Wednesday listed its green bonds worth USD 750 million on IFSC stock exchanges at GIFT City in Gujarat.
"REC Ltd has undertaken an exclusive listing of its recently issued green bonds of USD 750 million raised under its Global Medium Term Programme of USD 7 billion at GIFT IFSC stock exchanges in a primary listing ceremony held in GIFT IFSC, Gandhinagar on May 3, 2023," a company statement said.
The listing ceremony was attended by Injeti Srinivas, Chairman, International Financial Services Centres Authority (IFSCA), as the chief guest in the presence of Vivek Kumar Dewangan, Chairman and Managing Director (CMD), REC, and Ajoy Choudhury, Director (Finance), REC, as well as officials of India INX and NSE IFSC.
"We are pleased that REC Limited, a Maharatna company, has listed their USD 750 million green bonds exclusively on the IFSC exchanges. With this listing, the cumulative ESG labelled bonds listed on IFSC exchanges has crossed USD 10 billion," Srinivas said.
V Balasubramaniam, MD and CEO, NSE International Exchange, said, with the listing of its green bonds on NSE International Exchange and India INX at GIFT IFSC, REC’s total listing reached USD 4.75 billion under its USD 7 billion global medium-term note programme.
"This takes total bond issuance on IFSC exchanges to USD 51.7 billion-plus with the total medium-term notes worth over USD 73 billion," Balasubramaniam said.
Arunkumar Ganesan, Chief Business Operations & Listing, India INX, said in the statement, "This (listing of REC bonds) firmly reinforces India INX and GIFT IFSC as a credible and competitive international jurisdiction for raising capital from global investors."
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