Fitch rates REC Ltd’s proposed USD notes BBB-minus Hong Kong: Fitch Ratings has assigned REC Ltd’s proposed senior unsecured notes a rating of BBB-negative. REC (earlier known as Rural Electrification Corporation) is a Navratna company under the administrative control of Ministry of Power. The proposed notes will be issued from REC’s existing 7 billion dollar […]
Discoms’ outstanding dues to power gencos rise 35% to Rs 1.41 lakh cr
New Delhi : Power producers’ total dues owed by the distribution firms rose over 35 per cent to Rs 1,41,621 crore in November 2020, reflecting stress in the sector. The distribution companies (discoms) owed a total of Rs 1,04,426 crore to power generation firms in November 2019, according to portal PRAA (Payment Ratification And Analysis […]
Loans worth Rs 1.18 lakh crore sanctioned under discom liquidity package
In May, Finance Minister Nirmala Sitharaman had announced Rs 90,000 crore liquidity infusion into cash-strapped discoms facing demand slump due to the COVID-19 crisis. New Delhi: Loans worth Rs 1.18 lakh crore have been sanctioned so far by state-run non-banking finance firms Power Finance Corporation and REC Ltd under the liquidity package for stressed power […]
Discoms’ outstanding dues to power gencos rise 37 percent to Rs 1.33 lakh crore in August
In August 2020, the total overdue amount, which was not cleared even after 45 days of grace period offered by generators, stood at Rs 1,20,439 crore, as against Rs 78,646 crore in the year-ago period. NEW DELHI: Power producers’ total dues owed by distribution firms rose over 37 per cent year-on-year to Rs 1.33 lakh […]
REC Ltd successfully raises 3Yr USD 500 Mn Bonds, first USD cross border issuance out of India since COVID-19
REC Ltd successfully raises 3Yr USD 500 Mn Bonds, first USD cross border issuance out of India since COVID-19 For more information please see below link:
REC board okays incorporation of 7 SPVs to facilitate evacuation of renewable energy
The board of directors of REC Ltd in its meeting held on March 25, 2020, inter-alia approved the proposal for incorporation of seven project specific special purpose vehicles (SPVs) as wholly-owned subsidiaries of REC Transmission Projects Company Ltd New Delhi: State-owned shadow banking firm REC Ltd on Wednesday said its board has approved a proposal […]
