You are here: Home » News-CM » Companies » News
Business Standard

REC raises USD 500 million via 2.5% Notes issuance

Capital Market 

Under its USD 7 billion Global Medium Term Note Programme

REC has priced US$ 500,000,000, 2.25 per cent Notes due 2026, on 22 February, 2021 under its USD 7 billion Global Medium Term Note Programme (the "Notes"). The Notes will mature on 01 September, 2026 and all principal and interest payments will be made in U.S. Dollars. The settlement date for the Notes is expected to be 01 March 2021.

The Notes represent direct, unconditional and unsecured obligations of the Issuer and will rank pari passu among themselves and all other unsecured obligations of the Issuer. The Notes will be listed on London Stock Exchange's International Securities Market (ISM), Singapore Exchange (SGXST), Global Securities Market of India International Exchange (India INX) and NSE IFSC.

The net proceeds from the sale of the Notes will be applied for lending to the power sector in accordance with the External Commercial Borrowings Regulations and directions of the Reserve Bank of India.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, February 23 2021. 18:29 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU