REC has raised Rs 5,000 crore through issuance of bonds. The offering included Rs 3,000 crore through five-year bonds at a coupon of 6.87 per cent and Rs 2,000 crore through 10-year bonds at a coupon of 6.86 per cent. The bonds will be listed on both the BSE and the National Stock Exchange (NSE), enhancing their liquidity and offering investors easy tradability.
The bonds have been assigned a ‘AAA’ rating by prominent credit rating agencies CARE Ratings, ICRA, and India Rating & Research (IRRPL), signifying the highest degree of safety regarding timely servicing of financial obligations.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric cooperatives for rural electrification projects as are sponsored by them.
