Jul 07, 2021 15:53 Source: BSE
REC - Issue Of US$ 400 Million 2.75 Per Cent Notes
In compliance with Regulation 30 of SEBI (LODR) Regulations, 2015, this is to inform that REC Limited has priced US$ 400,000,000, 2.75 per cent Reg. S Notes due 2027 on 6th July, 2021 under its USD 7 Billion Global Medium Term Note Programme (the 'Notes'). The Notes will mature on 13th January, 2027 and all principal and interest payments will be made in U.S. Dollars. The settlement date for the Notes is expected to be 13th July, 2021. 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, guidelines and directions of the Reserve Bank of India.