India New Issue-REC accepts bids for multiple-tenor bonds, bankers say

REC

11/09/2026 09:04

MUMBAI, Sept 11 (Reuters) - India's REC RECM.NS accepted bids worth 70 billion rupees ($731.38 million) in a sale of bonds maturing in 10 years and 14 days and five years and 14 days, three bankers said on Friday. 
REC will pay a coupon of 7.73% on the 10-year note and 7.67% on the five-year bonds, bankers said, and had invited commitment bids for the issue earlier in the day. 
The five-year note will carry a put option after three years, one of the bankers said.
The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on September 11: 
Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
REC
10 years and 14 days
7.73
40
September 11
AAA(Crisil, Care)
REC
5 years and 14 days
7.67
30
September 11
AAA(Crisil, Care)
Motilal Oswal Financial Services
5 years
8.7
4+1.6
September 15
AA+(Icra)
LIC Housing Finance
3 years
To be decided
10+25
September 15
AAA (Crisil, Icra)
Reliance Industries
5 years
7.47
100+25
September 15
AAA (Crisil)
Canara Bank
perpetual
To be decided
20+25
September 16
AA+ (Crisil, Icra)
Sammaan Capital
3 years
9.05
5
September 10
AA+ (Crisil, Icra)
Sammaan Capital 
5 years
9.10
2.75
September 10
AA+ (Crisil, Icra)

*Size includes base plus greenshoe for some issues


($1 = 95.7100 Indian rupees)

 (Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)
 ((Khushi.malhotra@tr.com, Dharamraj.dhutia@tr.com))