REC Ltd raises Rs 5,635 crore via private placement of bonds

New Delhi: REC Limited has successfully mobilised Rs 5,635 crore through a private placement of bonds, the company announced on Wednesday. The fundraise was conducted in two tranches: Rs 3,000 crore was raised via bonds maturing in 2 years and 8 months at a coupon rate of 6.52 percent per annum, while Rs 2,635 crore was raised through bonds with a tenure of 10 years and 11 months at a coupon rate of 6.81 percent per annum.

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The issuance garnered a strong response from investors, underlining the market's confidence in REC’s financial strength and long-term growth outlook. The bonds have received a “AAA” rating from leading credit rating agencies—CARE Ratings, ICRA, and India Ratings & Research (IRRPL)—indicating the highest level of safety with respect to the timely servicing of financial obligations.

To ensure liquidity and tradability for investors, the bonds will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

REC Limited, under the Ministry of Power, plays a key role in financing and promoting power sector infrastructure projects across India.

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