REC Ltd has signed a foreign currency term loan agreement for $100 million, with Export Import Bank of India (EXIM Bank), the company said on Wednesday.
The funds will be raised as part of REC’s broader market borrowing programme of Rs 1.20 lakh crore for 2023-24.
The loan has been tied up for a 5-year tenor and is benchmarked to SOFR (Secured Overnight Financing Rate), the company said.
