REC issues USD 500 mn 4.75% Notes due 2023

REC has issued US$ 500,000,000, 4.75 per cent Notes due 2023, on 12 May 2020. The Notes will mature on 19 May 2023 and all principal and interest payments will be made in U.S. Dollars. The settlement date for the Notes is expected to be 19 May 2020.

The Notes will be listed on London Stock Exchange's International Securities Market (ISM), Singapore Exchange (SGX-ST), India International Exchange (India INX) and NSE IFSC.

The net proceeds from the sale of the Notes will be applied for lending to Power Sector.

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