Team News Riveting
Gurgaon, May 21
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 crore through 2 years 8 Month bonds at coupon of 6.52 per cent per annum and Rs 2,635 crore through 10-years 11 months bonds at coupon of 6.81 per cent per annum.
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.
