The state-run company has appointed Barclays, DBS Bank,
MUFG, Standard Chartered Bank and the London branch of the State
Bank of India as joint lead managers for the issue.
This would be the first dollar bond issue by a state-run
company after EXIM Bank in January.
In March, REC had issued bonds maturing in more than five
years and over 10 years at 7.77% and 7.69%, respectively. The
10-year plus bonds have a put option at the end of more than
three years.
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by
Sherry Jacob-Phillips)
MUMBAI, April 4 (Reuters) - India's REC has
set 5.6950% coupon for its dollar-denominated green bonds
maturing in five years, three merchant bankers said on Tuesday.
REC has raised $750 million and is selling
dollar-denominated green bonds under the company's green finance
framework.
The company had opened the book-building process with an
initial guidance of U.S. yield plus 250 basis points spread on
Monday.
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