REC to raise USD 500 mn via global notes PSU Watch
News Updates

REC to raise USD 500 mn via global notes

REC Ltd will raise USD 500 million under its USD 10 billion global medium-term note programme

PTI

New Delhi: State-owned REC Ltd on Monday said it will raise USD 500 million under its USD 10 billion global medium-term note programme. According to a filing, these notes represent direct, unconditional and unsecured obligations of the company and will rank pari passu among themselves and all other unsecured obligations of the company.

PSU Watch is now on Whatsapp Channels. Click here to join

"REC under its USD 10 billion Global Medium Term Note Programme, has priced USD 500 Million, 4.75 per cent Notes, on September 23,2024," a BSE filing stated.

These notes will be listed on Global Securities Market of India International Exchange Ltd (India INX) and NSE IFSC.

The net proceeds from the issue of these notes will be applied to finance, in whole or in part, the eligible green projects, in each case in accordance with the REC Ltd Green Finance Framework and the External Commercial Borrowings guidelines and directions of, and the approvals granted by, the Reserve Bank of India (RBI) from time to time.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

BEML expands defence manufacturing with new units at KGF complex

EASE reforms supported PSU banks in advancing 'Viksit Bharat' vision: IBA Chief Executive

Bhopal and Khajuraho airports in MP top AAI's customer satisfaction 2025 first half chart

Hindustan Zinc launches guidebook to promote workplace equity, inclusive environment

Centre committed to overhaul Jharkhand's infra, implement Rs 2 lakh crore projects: Gadkari