October 2 (Renewables Now) - The Indian Renewable Energy Development Agency (IREDA) has raised about USD 300 million (EUR 255m) through the issuance of a green bond on the London Stock Exchange.
The state-owned financial institution will use the funds to support renewable energy projects across India.
This is the first green Masala bond on London Stock Exchange's new International Securities Market (ISM), the exchange said last week. The five-year bond has a coupon of 7.125% and is one of 48 green bonds listed in London that have raised more than USD 13 billion in aggregate terms across seven currencies.
(USD 1 = EUR 0.851)