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REC Limited Successfully Lists Two Bonds Worth INR 5,375 Crore on NSE and BSE

The first bond, valued at INR 2,500 crores, features a 10-year maturity period with a redemption date of February 28, 2034, and a yield of 7.47 percent.

March 02, 2024. By Abha Rustagi

REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, has achieved a milestone by successfully listing two bonds on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

The first bond, valued at INR 2,500 crores, features a 10-year maturity period with a redemption date of February 28, 2034, and a yield of 7.47 percent. The second bond, worth INR 2,875 crores, has a maturity period of 3 years and 2 months, with a redemption date of April 30, 2027, and a yield of 7.64 percent.

The funds raised through this private placement are earmarked for general business activities. Both bonds have been rated highly, with IND AAA by IRPL and ICRA AAA by ICRA, underscoring REC Limited's strong financial standing.

Commenting on the successful bond listing, Vivek Kumar Dewangan, CMD of REC Limited, stated, "The successful listing of these bonds underscores REC Limited's commitment to innovation and financial prudence. We are dedicated to leveraging these funds to further our mission of empowering India through sustainable power and Infrastructure solutions.”

REC Limited, registered with RBI as a Non-Banking Finance Company (NBFC) and Infrastructure Financing Company (IFC), plays a pivotal role in financing various sectors including power infrastructure, renewable energy, electric vehicles, and non-power infrastructure such as roads, metro rail, airports, and more.

REC Ltd. is a key player in supporting the Government's flagship schemes for the power sector, including Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA) and Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), among others.

As of December 31, 2023, REC Limited's loan book stands at INR 4.97 lakh crores, with a net worth of INR 64,787 crores, reflecting its role in India's infrastructure development landscape.

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