Debt

Debt Financing

State-run REC raises $400-M via bonds

MyBigPlunge  

State-owned REC Ltd has raised USD 400 million (around INR 2,986 crore) by issuing bonds to finance the power sector. The bonds have been issued under the company's USD 7 billion Global Medium Term Note Programme. The notes (bonds) will mature on January 13, 2027 and all principal and interest payments will be made in US dollars. The Notes will be listed on London Stock Exchange's International Securities Market (ISM), Singapore Exchange (SGX-ST), Global Securities Market of India International Exchange (India INX) and NSE IFSC. The sale proceeds will be used for lending to the power sector.