State-owned Indian Renewable Energy Development Agency (IREDA) has raised $ 300 million via 'Green Masala Bonds' at the London Stock Echange (LSE).

This is the first green Masala Bond on LSE's new International Securities Market (ISM). This is the fourth green bond by an Indian issuer to be issued on London Stock Exchange, sources said.

IREDA's five-year dated green Masala Bond came with a coupon of 7.125 per cent.

London Stock Exchange is now the largest Masala Bond centre globally with 42 Bonds listed in total with an equivalent of over $ 6 billion. There are 48 green bonds listed in London that have raised over $ 13 billion in aggregate terms across seven currencies. Ten new green bonds have been listed on LSE in 2017 alone.

Axis Bank, NTPC and REC were the three earlier Indian issuers of green bonds at LSE.

Srivats.Kr@thehindu.co.in