Advertisement
X

REC Successfully Lists Two Bonds On NSE & BSE Worth ₹2,500 Cr And ₹2,875 Cr

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

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.

Shri 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.”

About REC Limited –

About REC Limited: REC is a 'Maharatna' CPSE under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pumped Storage projects, Green Hydrogen, Green Ammonia projects etc. Recently, REC has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. REC Ltd. provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Ltd. continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been a nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government. The loan book of REC stands at Rs 4.97 Lakh Crore and Net Worth at Rs. 64,787 crores as on 31st Dec, 2023.

Disclaimer: The above is a contributor post, the views expressed are those of the contributor and do not represent the stand and views of Outlook Editorial.

Show comments
US