India New Issue-REC to issue multiple-tenor bonds, bankers say
India New Issue-REC to issue multiple-tenor bonds, bankers say MUMBAI, June 23 (Reuters) - India's REC RECM.NS plans to raise up to 60 billion rupees ($633.46 million), including a greenshoe option of 50 billion rupees, through the sale of bonds maturing in five years and one day, and through the reissue of 7.46% June 2028 bonds, three bankers said on Tuesday.
It has invited coupon and commitment bids for the issue on Thursday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on June 23:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
REC June 2028 reissue | 5 years and 17 days | To be decided | 5+25 | June 25 | AAA(Care, Crisil) |
REC | 5 years and 1 day | To be decided | 5+25 | June 25 | AAA(Care, Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 94.7175 Indian rupees)
(Reporting by Khushi Malhotra; Editing by Janane Venkatraman)
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