 "REC raises Rs 5,000 crore through bond issuance with strong response")
State-owned REC Ltd on Monday said it has raised Rs 5,000 crore through issuance of bonds.
The offering included Rs 3,000 crore through five-year bonds at a coupon of 6.87 per cent and Rs 2,000 crore through 10-year bonds at a coupon of 6.86 per cent, a company statement said.
According to the statement, 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 BSE and the National Stock Exchange (NSE), enhancing their liquidity and offering investors easy tradability.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app