Live
- Indian students' concerns about employment, safety, and visas discourage them from applying to UK universities
- Candlelight Concerts Makes a Dazzling Debut in Hyderabad with Sold-Out 'Tribute to Coldplay' Show
- Shubman Gill Sustains Thumb Injury Ahead of Perth Test; Devdutt Padikkal Joins Test Squad
- Unlock Loot Boxes, Diamonds, Skins, and More Exciting Rewards with Garena Free Fire Max Redeem Codes for November 16
- Regarding the DOGE Plan, Vivek Ramaswamy stated, "Elon Musk and I Will Take a Chainsaw to Bureaucracy"
- Sudanese army says repulsed paramilitary forces attack in western Sudan, killing over 80
- Jaipur Open 2024: Baisoya makes a grand comeback to clinch title in marathon playoff against Rashid Khan
- Jamaat-e-Islami Hind President asks cadre to reach out to larger society beyond community
- Why PM mum on Caste Census, removing 50 pc quota limit: Rahul Gandhi
- Barrackpore Municipality Vice-Chairman found dead at home, suicide note suggests blackmail
REC raises $400 mn
Highlights
REC concluded a $400 million Reg S bonds deal in London on 11th December. The bond is priced at 115 basis points over three years US Treasury and is for refinancing the existing ECB, being first of its kind by any Indian PSU. The equivalent pricing of 6M Libor plus 83bps spread is the best for any Indian PSU in the last decade.
Hyderabad: REC concluded a $400 million Reg S bonds deal in London on 11th December. The bond is priced at 115 basis points over three years US Treasury and is for refinancing the existing ECB, being first of its kind by any Indian PSU. The equivalent pricing of 6M Libor plus 83bps spread is the best for any Indian PSU in the last decade.
REC priced its bond at the tighter end of the pricing guidance, highlighting a strong appetite from investors. This is the second international bond transaction by REC this year. The company had successfully raised green bonds of US$ 450 million in July this year, first of its kind and at the tightest spread at that time by any Indian PSU.
Next Story
ADVERTISEMENT
