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REC raises $500 mn via overseas bond issue

REC raises $500 mn via overseas bond issue
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First Published: Thu, Jan 20 2011. 03 15 PM IST
Updated: Thu, Jan 20 2011. 03 15 PM IST
New Delhi: India’s state-run lender Rural Electrification Corp (REC) said on Thursday it has raised $500 million through overseas bond issue.
The bonds, which were sold at a fixed coupon of 4.25%, got almost three times subscribed, attracting demand from more than 150 investors.
REC finances electricity projects in India and has the mandate to fund rural electrification projects.
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First Published: Thu, Jan 20 2011. 03 15 PM IST