HomeStandards & Certifications ›REC Honored with Best Green Bond - Corporate Award at The Asset Triple A Awards 2024

REC Honored with Best Green Bond - Corporate Award at The Asset Triple A Awards 2024

REC's Green Bond issue, priced at a minimum new issue premium of 7.5 bps, demonstrated strong investor confidence.

February 07, 2024. By Abha Rustagi

REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, has been awarded the prestigious Best Green Bond - Corporate Award at The Asset Triple A Awards for Sustainable Finance 2024.

The accolade specifically acknowledges REC's outstanding achievement in issuing USD 750 million USD Green Bonds in April 2023, marking a historic milestone as the first USD Green Bond issuance from India after the country assumed the G20 Presidency. Notably, this issuance also stands as the largest-ever Senior Green Bond Tranche by a South or South-East Asian issuer.

REC's Green Bond issue, priced at a minimum new issue premium of 7.5 bps, demonstrated strong investor confidence and showcased the company's significant contribution to financing projects dedicated to climate change mitigation and environmental sustainability.

Chairman and Managing Director of REC Limited, Vivek Kumar Dewangan, expressed delight at receiving the award, emphasizing the company's commitment to sustainable finance.  "We are delighted to receive this award, which reaffirms our commitment to sustainable finance and underscores our efforts to accelerate the transition towards a greener and more sustainable future at competitive costs. In addition to the USD Green Bonds of USD 750 Million issued in April 2023, REC also priced its inaugural Euro-Yen Green bonds of JPY 61.1 Billion in January 2024, which was the largest Yen Bond issuance by an Indian corporate. As such, REC stands resolute in its pledge to promote green and clean energy through these Green issuances," he said.

The Asset Triple A Awards, known for their stringent methodology and industry understanding, recognize organizations that excel in their respective fields.
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