REC raises $500 m thru overseas bonds

New Delhi | Updated on January 24, 2011 Published on January 24, 2011

Rural Electrification Corporation said on Thursday it has raised $500 million through an overseas bond issue.

The bonds, which were sold at a fixed coupon of 4.25 per cent, were subscribed almost three times, company officials said. The company expects disbursements to jump by a quarter in 2011-12 on rising loan demand from the power sector. “There will also be a matching demand for funds in the transmission and distribution business next fiscal,” Mr H.D. Khunteta, Director (Finance), told presspersons reporters here.

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Published on January 24, 2011
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