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REC launches issue of $650 million Notes

20 Jul 2019 Evaluate

REC has launched an issue of $650 million, 3.375% Notes due 2024, priced on July 18, 2019. The Notes will mature on July 25, 2024 and all principal and interest payments will be made in US Dollars. The settlement date for the Notes is expected to be July 25, 2019.

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.

Peers
Company Name CMP
Power Finance Corpn. 344.40
REC 308.00
NHIT 171.00
Satin Creditcare Net 214.80
IFCI 76.96
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