{"id":588995,"date":"2023-07-05T09:38:08","date_gmt":"2023-07-05T04:08:08","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=588995"},"modified":"2023-07-05T10:04:57","modified_gmt":"2023-07-05T04:34:57","slug":"power-sector-lender-rec-set-to-raise-1-bn-via-loans-to-fund-infra-projects","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/power-sector-lender-rec-set-to-raise-1-bn-via-loans-to-fund-infra-projects\/","title":{"rendered":"Power sector lender REC set to raise $1 bn via loans to fund infra projects"},"content":{"rendered":"<p>REC Ltd., one of the biggest lenders to India\u2019s power sector, is set to raise about $1 billion through term loans to help fund infrastructure projects, according to people familiar with the matter. <\/p>\n<p>The state-owned company\u2019s fundraising via external commercial borrowing is split in two tranches, with the first expected to close this month amounting to $505 million, said the people, who asked not to be identified as the details are private. <\/p>\n<p>The second tranche of $520 million is expected to be raised in August, as REC has applied to the nation\u2019s central bank for approval, they said. Both parts have a five-year maturity and the margin is set to be 130 basis points over the Secured Overnight Financing Rate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>REC Ltd., one of the biggest lenders to India\u2019s power sector, is set to raise about $1 billion through term loans to help fund infrastructure projects, according to people familiar with the matter. The state-owned company\u2019s fundraising via external commercial borrowing is split in two tranches, with the first expected to close this month amounting to $505 million, said the people, who asked not to be identified as the details are private. The second tranche of $520 million is expected to be raised in August, as REC has applied to the nation\u2019s central bank for approval, they said. Both parts [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-588995","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/588995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=588995"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/588995\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=588995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=588995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=588995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}