Which Maharatna Central Public Sector Enterprise won the Best Green Bond - Corporate Award at The Asset Triple A Awards for Sustainable Finance 2024?

Solution

REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been bestowed with the prestigious Best Green Bond - Corporate Award at The Asset Triple A Awards for Sustainable Finance 2024. REC has received the award for issuance of $750 million USD Green Bonds in April 2023 which was also the first USD Green Bond issuance from India post India’s assumption of G20 Presidency and the largest ever Senior Green Bond Tranche by a South or South-East Asian issuer. The bond issue was priced at a minimum new issue premium of 7.5 bps, which was tighter than the most recent high-rated issuances from the region. The award underscores REC Limited's unwavering commitment to sophisticated capital market instruments and customized financing solutions in advancing sustainable finance and fostering environmental stewardship. This recognition represents a milestone in REC Limited's dedication to support initiatives that drive positive environmental impact and foster sustainable development. Learn Along : About REC Limited REC is a 'Maharatna' Central Public Sector Enterprise under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pumped Storage projects, Green Hydrogen and Green Ammonia projects.