REC Limited has raised Rs 56.35 billion through a private placement of bonds.
The issuance includes Rs 30 billion through bonds with a tenure of 2 years and 8 months carrying a coupon of 6.52 per cent per annum. An additional Rs 26.35 billion was issued through bonds with a tenure of 10 years and 11 months and a coupon rate of 6.81 per cent per annum. Several credit rating agencies like CARE Ratings, ICRA, and India Rating & Research have assigned the bonds a “AAA” rating.