REC raises Rs 5,000 crore through bond issuance

New Delhi: REC Limited on Monday said that it has successfully raised Rs 5,000 crore through the issuance of bonds. The offering included Rs 3,000 crore through 5-year bonds at coupon of 6.87 percent and Rs 2,000 crore through 10-year bonds at coupon of 6.86 percent.

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The bond issuance witnessed an overwhelming response from market participants, reflecting strong investor confidence in the company’s robust financial position and growth prospects.

The bonds have been assigned a "AAA" rating by prominent credit rating agencies – CARE Ratings, ICRA, and India Rating & Research Pvt Ltd (IRRPL) – signifying the highest degree of safety regarding timely servicing of financial obligations.

The bonds will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), enhancing their liquidity and offering investors easy tradability.

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