REC Successfully Lists Two Bonds on NSE & BSE Worth ₹2,500 Cr and ₹2,875 Cr

REC Successfully Lists Two Bonds on NSE & BSE Worth ₹2,500 Cr and ₹2,875 Cr

FPJ BureauUpdated: Monday, March 04, 2024, 02:57 PM IST
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REC Limited, a Maharatna CPSE under the Ministry of Power, has successfully listed two bonds on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). These two bonds are worth ₹2,500 crore and ₹2,875 crore, with maturity periods of 10 years and 3 years 2 months respectively.

Salient features of these bonds –

· The redemption dates for these bonds are April 30, 2027, and February 28, 2034, respectively.

· The tenure of both bonds is 3 years and 2 months, and 10 years and 5 days, at yields of 7.64% and 7.47%, respectively.

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.

These bonds are rated IND AAA by IRPL and ICRA AAA by ICRA.

Vivek Kumar Dewangan, CMD, REC Limited, 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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