REC, Canara Bank raise Rs 10K cr via bonds; Ireda plans perpetual issue

Nabard, Sidbi to tap market this week to raise Rs 17,000 crore; Ireda eyes Rs 2,000 crore via perpetual bonds

State-owned REC, formerly known as Rural Electrification Corporation (REC), raised Rs 5,780 crore through bonds with varying tenors on Monday, while state-owned Canara Bank secured Rs 4,000 crore through Tier-II bonds, sources said.

 

Meanwhile, state-owned National Bank for Agriculture and Rural Development (Nabard) and Small Industries Development Bank of India (Sidbi) are tapping the domestic debt capital market to raise as much as Rs 17,000 crore this week, sources added.

 

On Monday, REC raised Rs 3,000 crore at a cut-off of 7.44 per cent through bonds maturing in 2 years and 11 months. Additionally, it raised Rs 2,780 crore at