The Rural Electrification Corporation (REC) has launched its first green bond on the London Stock Exchange (LSE) and raised $450 million to finance renewable energy projects in India. The 10-year dated green bond carries an annual yield of 3.965 per cent on LSE’s new International Securities Market (ISM). The REC bond is ISM’s first green bond listing since the market launch of this instrument in May this year. It was oversubscribed 3.9 times on the final order book and secured strong international investor interest, with Asian investors making up 68 per cent of the order book and investors from Europe, the Middle East and Africa making up the balance 32 per cent.
COPYRIGHT © 2016 | INDIAN INFRASTRUCTURE