REC Ltd Lists ₹2,500 Cr and ₹2,875 Cr Bonds on NSE and BSE

REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, has successfully listed two bonds on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). One bond is worth ₹ 2,500 crores of 10-year maturity, with a redemption date of February 28, 2034 and yield of 7.47%. The other one is worth ₹ 2,875 crores with a maturity period of 3 years, 2 months, with a redemption date of April 30, 2027 and a yield of 7.64%.

The funds raised through this private placement are not meant for any specific project; therefore, the proceeds of this issue shall be utilized for regular business activities.

These bonds are rated IND AAA by IRPL and ICRA AAA by ICRA.

Speaking about the bond-listing, CMD, REC Limited, Shri Vivek Kumar Dewangan said: "The successful listing of these bonds underscores REC Limited's commitment to innovation and financial prudence. We are dedicated to leveraging these funds to further our mission of empowering India through sustainable power and Infrastructure solutions.”

REC is a 'Maharatna' Central Public Sector Enterprise under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). REC finances the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pumped Storage Projects, Green Hydrogen and Green Ammonia projects. Recently, REC has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel and Refinery.

REC Ltd. provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Ltd. continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been a nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last-mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). The loan book of REC stands at Rs 4.97 Lakh Crores and Net Worth at Rs. 64,787 crores as on 31^st December, 2023.