New Delhi: 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 – signifying the highest degree of safety regarding timely servicing of financial obligations. The bonds will be listed on both the BSE and the NSE.