REC raises $500 million by issuing overseas bonds
New Delhi: State-owned RECNSE -0.80 % on Wednesday said it has raised $500 million (around Rs 3,773 crore) through issuance of overseas bonds.
According to deal investors, this is the first ever overseas bond issue by an Indian company since the Covid-19 crisis.
REC said in a statement that the Notes (bonds) will mature on May 19, 2023 and all principal and interest payments will be made in US dollars. The settlement date for the Notes is expected to be May 19, 2020.
