REC Limited, a Maharatna Central Public Sector Enterprise, has successfully issued its inaugural Japanese Yen (JPY) 61.1 billion (approximately Rs 3,500 crore) green bonds. This marks REC Limited’s 11th venture into the international bond market and the first-ever Yen Bond issuance by an Indian public sector undertaking. The bonds, part of a $10 billion global medium-term notes programme, have tenures of 5 years, 5.25 years, and 10 years. The proceeds will fund eligible green projects, aligning with REC Limited’s green finance framework and regulatory guidelines. The transaction saw significant interest from both Japanese and international investors, making it the largest Yen-denominated issuance from India and the largest non-sovereign Yen-denominated issuance in South and South East Asia.