The Rural Electrification Corporation has raised $450 million through the sale of green bonds listed at the London Stock Exchange. The bonds have a 10-year tenure with an interest of 3.97 per cent per annum. The bonds were oversubscribed 3.9 times on the final order book and received strong investor interest internationally, with Asian investors accounting for 68 per cent of the total subscriptions and investors from the EMEA (Europe, the Middle East and Africa) region accounting for the remaining 32 per cent of the order book. The green bond issue is the first of its kind to be traded on the London Stock Exchange’s new International Securities Market. The funds raised will be used to develop solar, wind and biomass power projects, as well as sustainable water and waste management projects in India.