India's REC accepts bids for 40 billion rupee five-year bonds
India's state-run REC accepted bids worth 40 billion rupees for bonds with a 8.30% coupon, three bankers told Reuters on Tuesday.
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what happened
India's state-run REC has accepted bids worth 40 billion rupees ($420.23 million) for bonds maturing in five years and three days. The company will pay a coupon of 8.30%. Three bankers told Reuters on Tuesday that the company had opened commitment bids for the issue earlier that day.
REC did not reply to a Reuters email requesting comment. The day's list of deals also included two Poonawalla Fincorp issues with three- and four-year tenors.
why it matters
Deals like this show what yield investors are willing to accept on Indian state-company debt. The AAA ratings from Crisil, Icra and Care point to high credit quality, which matters for demand in the Indian domestic bond market.
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sources
- REC accepts bids for over 5-year bonds, bankers say — Reuters, 27 October 2026 at 06:39 UTC
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