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REC raises USD 650 million from international bond market

REC has launched an issue of US$ 650,000,000, 3.375 per cent Notes due 2024, priced on 18 July 2019. The Notes will mature on 25 July 2024 and all principal and interest payments will be made in U.S. Dollars. The settlement date for the Notes is expected to be 25 July 2019.

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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