REC Limited announced that it has successfully raised USD 500 million 5-year Green bonds issued off its USD 10 billion Global Medium Term Programme. The bond proceeds will be used to finance Eligible Green Projects, in accordance with REC’s Green Finance Framework as per Green Bond principles of Climate Bond Initiative, London and RBI’s ECB Guidelines, with a second-party opinion from Sustainable Fitch.  The 5-year benchmark has a semi-annual coupon rate of 4.75% per annum and matures on 27 September 2029. This was the first USD bond issuance from an Indian PSU in 2024. The final order book was oversubscribed by more than 1.9 times, allowing REC to achieve the tightest spread ever of 127.5 bps over US treasury, by an Indian NBFI for a 5-year USD issuance. This strong demand reflects confidence in REC's robust credit profile and India's commitment to green and sustainable infrastructure development.  Vivek Kumar Dewangan, CMD, REC Limited, expressed his satisfaction with the success of the issuance, stating: “We are immensely proud of REC’s repeated success in the international bond market. This green bond issuance underscores the faith that global investors continue to place in REC’s financial strength and strategic direction. The overwhelming demand for our green bonds, amidst a challenging global financial environment, reflects the established standing of India as a key player in the green finance market. At a time when sustainability and climate action have become global imperatives, REC is honored to contribute to shaping a greener future for the nation and the world. We look forward to continuing our work with global investors, stakeholders, and partners to create lasting value while addressing one of the most critical challenges of our time: climate change.”