State-owned infrastructure financecompany in the power sector – Rural ElectrificationCorporation (REC) – today announced it has raised $300 million through Dollar bonds that are bought and sold outside of the United States.
The company said the 10-year Regulation-S bonds were priced at a coupon of 4.625 per cent. “The bond issuance has received an overwhelming response with order book of more than $900 million. The net proceeds will be used for the country’s power sector development,” REC said in a statement.
The rural electrification financing company had last year raised $400 million through a dollar bond priced at 115 basis points over three years US Treasury. It was concluded on 11 December 2017 in London. Read More…
Latest posts by ET Energy World (see all)
- Kishanganga hydro power project tunnel dewatered to lay cables - December 12, 2018
- India’s fuel demand fell 1.8 per cent year on year in November - December 12, 2018
- Land for Ratnagiri refinery should be available by 2019: B Ashok, Ratnagiri Refinery CEO - December 12, 2018