Rural Electrification Corporation (REC) has launched an issue of $450 million 3.875% Notes due 2027, priced on June 29, 2017. The Notes will mature on 2027 and all principal and interest payments will be made in US Dollars. The Notes are expected to be settled by July 7, 2017. The Notes represent direct, unconditional and unsecured obligations of the Issuer and will rank pari passu among themselves and all other unsecured obligations of the Issuer. The Notes will be listed on the Singapore Exchange (SGX) and the green segment of the London Stock Exchange's International Securities Market (ISM).
The net proceeds from the sale of the Notes will be applied for financing of existing projects including re-financing and new eligible Green Projects primarily covering in the area of solar, wind, biomass and hydropower energy as per Climate Bond Standards.
Rural Electrification Corporation (REC) is engaged in providing financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.
| Company Name | CMP |
|---|---|
| Power Finance Corp | 461.00 |
| REC | 359.35 |
| Indian Railway Fin. | 106.05 |
| NHIT | 160.00 |
| Satin Creditcare | 212.55 |
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