IREDA Secures JPY 26 Billion ECB Facility from SBI Tokyo

Indian Renewable Energy Development Agency Limited (IREDA) has signed a Facility Agreement today for raising External Commercial Borrowing (ECB) from SBI, Tokyo Branch for JPY 26 billion, including a Green Shoe Option of JPY 10 billion.

This five-year unsecured facility, with bullet payment at maturity, is set to strengthen IREDA's global market presence. The landed cost (after hedging) is expected to be below 7%, making it more cost-effective than similar-tenure loans in the domestic market.

Commenting on the agreement, Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, stated, "This facility enables us to diversify our resource base and optimize costs, enhancing our lending operations to support India's renewable energy sector. The transaction reflects the strong confidence of global investors in IREDA's financial stability and growth potential."

IREDA continues to enjoy international credit rating of 'BBB-' long-term and 'A-3' short-term with Outlook 'Stable' from S&P Global, underscoring its highest standards of corporate governance and credibility in international markets.

Shares of Indian Renewable Energy Development Agency Limited was last trading in BSE at Rs. 161.90 as compared to the previous close of Rs. 162.85. The total number of shares traded during the day was 1377225 in over 9467 trades.

The stock hit an intraday high of Rs. 167.45 and intraday low of 160.65. The net turnover during the day was Rs. 225582137.00.

Source : Equity Bulls

Keywords

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