IREDA Secures JPY 26 Billion ECB Facility from SBI Tokyo

Kolkata: 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.

Recent News

Teen Phenom Mensik Denies Djokovic 100th Title at Miami Open

Miami, Florida – In a thrilling upset at the Miami Open final on Sunday, 19-year-old Jakub Mensik denied Novak Djokovic his 100th career title,...

Gold Price Soars to Record $3,100 Amid Global Uncertainty

Gold prices shattered records today, surging to an all-time high of $3,100 per ounce, as investors flock to the safe-haven asset amid escalating global...

Nike Train Heist Foiled: Two Suspects Nabbed After Dramatic Mojave Desert Bust

Mojave Desert, Arizona – Authorities in Arizona have arrested two suspects tied to a series of daring train heists targeting shipments of Nike shoes...

ISAR Aerospace Debuts Spectrum Rocket with Scenic Launch from Norway

Andøya, Norway – ISAR Aerospace, a rising European space company, marked a milestone today with the inaugural launch of its Spectrum rocket from the...