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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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