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Corporate News
23-Feb-21
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REC raises USD 500 million via 2.5% Notes issuance
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Under its USD 7 billion Global Medium Term Note Programme
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REC has priced US$ 500,000,000, 2.25
per cent Notes due 2026, on 22 February, 2021 under its USD 7 billion Global Medium Term
Note Programme (the "Notes"). The Notes will mature on 01 September, 2026 and all principal
and interest payments will be made in U.S. Dollars. The settlement date for the Notes is
expected to be 01 March 2021.
The Notes represent direct, unconditional and unsecured obligations of the Issuer and will rank
pari passu among themselves and all other unsecured obligations of the Issuer. The Notes will be
listed on London Stock Exchange's International Securities Market (ISM), Singapore Exchange
(SGX·ST), Global Securities Market of India International Exchange (India INX) and NSE
IFSC.
The net proceeds from the sale of the Notes will be applied for lending to the power sector
in accordance with the External Commercial Borrowings Regulations and directions of the
Reserve Bank of India.
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