The issue will mature in February 2026. Earlier this month, REC raised 30 billion rupees through bonds maturing in three years, five months and 18 days at 7.56% and 20.04 billion rupees via bonds maturing in 10 years and 19 days at a 7.69% coupon. ($1 = 81.7350 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Janane Venkatraman)
MUMBAI, Jan 31 (Reuters) - India's REC has set
a 7.60% coupon for bonds maturing in three years and one month,
three merchant bankers said on Tuesday.
The state-run company had invited coupon and commitment bids
from bankers and investors earlier in the day and has accepted
bids worth 31.49 billion Indian rupees ($385.27 million), they
said.
The bonds are rated AAA by CRISIL and ICRA and will close
for subscription later this week.
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