REC Limited to raise funds through issue of Notes

REC Limited (the "Company") has issued the Preliminary Note Offering Circular dated February 16, 2023 in relation to proposed issuance of Notes by the Company under its existing USD 7,000,000,000 Global Medium Term Note Programme.

In this regard, the Company, rated Baa3 (Stable)/ BBB·(Stable) by Moody's / Fitch, has mandated Barclays Bank PLC, DBS Bank Limited, MUFG Securities Asia Limited, Standard Chartered Bank and State Bank of India, London Branch as Joint Lead Managers and Joint Book Runners to arrange a series of ftxed income investor meetings and conference calls in Asia , Europe and USA commencing February 21, 2023 . A benchmark sized USD denominated Rule 144A / Regulation S long·term 5-year senior green notes offering (the "Notes "), under the Company's Global Medium Term Note Programme, may follow subject to market conditions. The Notes will be issued under REC Limited Green Finance Framework. Further, KPMG India has provided a limited pre-issuance assurance report dated February 10, 2023 in respect of the Notes.

Shares of REC Limited was last trading in BSE at Rs. 113.55 as compared to the previous close of Rs. 115.55. The total number of shares traded during the day was 222200 in over 2065 trades.

The stock hit an intraday high of Rs. 116.00 and intraday low of 113.30. The net turnover during the day was Rs. 25404006.00.

Source : Equity Bulls

Keywords

REC INE020B01018 FundRaising Notes GlobalMediumTermNoteProgramme