REC raises Rs 5,635 crore through private placement

REC Limited, a Maharatna CPSU, and a leading NBFC under the Ministry of Power, has successfully raised Rs 5,635 crore through private placement of bonds. The offering included Rs 3,000 cr through a 2-year and 98-month pvt placement bonds at a coupon of 6.52% p.a., and Rs 2,635 cr (through a 10-year and 1- month pvt placement) of bonds at coupon of 6.81% p.a. 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 IRRPL–signifying the highest degree of safety regarding timely servicing of financial obligations. The bonds will be listed on both the BSE and the NSE, enhancing their liquidity and offering investors easy tradability.

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