New Delhi: REC Limited on Friday said that it has successfully listed two bonds on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). One bond is worth Rs 2,500 crores of 10-year maturity, with a redemption date of February 28, 2034 and a yield of 7.47 percent. The other one is worth Rs 2,875 crores with a maturity period of 3 years, 2 months, with a redemption date of April 30, 2027 and a yield of 7.64 percent.
The funds raised through this private placement are not meant for any specific project; therefore, the proceeds of this issue shall be utilized for regular business activities, REC said in its statement.
These bonds are rated IND AAA by IRPL and ICRA AAA by ICRA.
Speaking about the bond-listing, REC CMD Vivek Kumar Dewangan said: "The successful listing of these bonds underscores REC Limited's commitment to innovation and financial prudence. We are dedicated to leveraging these funds to further our mission of empowering India through sustainable power and Infrastructure solutions.”
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