State-run Rural Electrification Corporation (REC) is planning to garner over Rs 37,000 crore in current fiscal through various instruments from both domestic as well as overseas markets. The company has already planned to raise Rs 5,000 crore via issue of tax-free bonds.
The bond issue, will carry coupon rate ranging from 8.01 per cent to 8.46 per cent on per annum basis, will open on August 30 and close on September 23. The funds raised will be used for lending for projects in the transmission, distribution and generation sectors.
The company has already sanctioned loan for projects worth Rs 40,000 crore and has already disbursed Rs 13,000 crore.
