1. Home
  2. Business & Finance
  3. REC Successfully Raises Rs 5,635 Crore Through Private Placement of Bonds – EQ
REC Successfully Raises Rs 5,635 Crore Through Private Placement of Bonds – EQ

REC Successfully Raises Rs 5,635 Crore Through Private Placement of Bonds – EQ

0
0

In Short : REC Limited raised ₹5,635 crore through private bond placements, with tranches of ₹3,000 crore (2 years, 8 months) at 6.52% and ₹2,635 crore (10 years, 11 months) at 6.81%. Rated “AAA” by top agencies, the bonds will be listed on BSE and NSE. The funds will support REC’s power sector infrastructure projects across India.

In Detail : REC, a Maharatna CPSU and a leading NBFC under the Ministry of Power, has successfully raised Rs 5,635 crore through private placement of bonds. The offering included Rs 3,000 crore through 2 years 8 Month bonds at coupon of 6.52 per cent p.a. and Rs 2,635 crore through 10-years 11 months bonds at coupon of 6.81 per cent p.a.

The bond issuance witnessed an overwhelming response from market participants, reflecting strong investor confidence in the company’s robust financial position and growth prospects.

The bonds have been assigned a “AAA” rating by prominent credit rating agencies – CARE Ratings, ICRA, and India Rating & Research (IRRPL) – signifying the highest degree of safety regarding timely servicing of financial obligations.

The bonds will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), enhancing their liquidity and offering investors easy tradability.

Anand Gupta Editor - EQ Int'l Media Network