India's REC plans bond issue of 40 billion rupees over five years
State-run REC plans to raise 40 billion rupees through five-year bonds, with coupon and commitment bids due Tuesday, October 27, bankers told Reuters.
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what happened
According to three bankers who spoke to Reuters on Friday, India's REC plans to raise 40 billion rupees, about $421.59 million. The total includes a 'greenshoe' option of 32 billion rupees.
The bonds will mature in five years and three days. The company will accept coupon and commitment bids on Tuesday. The issue is rated AAA by Crisil, Icra and Care, while the coupon has yet to be decided.
REC did not respond to a Reuters email requesting comment on the deal.
why it matters
The deal is small by market standards and comes from a state-owned company with a high credit rating, so its effect on the broader market is limited. For investors in Indian debt, it offers a gauge of demand for five-year government-sector paper. The final coupon will become clear once bids are collected.
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- REC to issue over 5-year bonds, bankers say — Reuters, 23 October 2026 at 04:52 UTC
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