REC Limited, a Maharatna Central Public Sector Undertaking and leading non-banking financial company under the Ministry of Power, has successfully raised Rs 56.35 billion through private placement of bonds. The offering included Rs 30 billion via bonds maturing in two years and eight months with a coupon rate of 6.52 per cent per annum, and Rs 26.35 billion via bonds maturing in ten years and eleven months with a coupon rate of 6.81 per cent per annum.

The issuance received an overwhelming response from market participants, reflecting strong investor confidence in REC’s robust financial position and growth prospects.

The bonds have been assigned a “AAA” rating by credit rating agencies CARE Ratings, ICRA, and India Rating & Research Pvt Ltd, indicating the highest safety for timely financial obligations.

These bonds will be listed on the Bombay Stock Exchange and National Stock Exchange, improving liquidity and providing investors with easy tradability.

Source:REC Limited press release