India New Issue-REC to issue near 3-year bonds, bankers say
India New Issue-REC to issue near 3-year bonds, bankers say MUMBAI, June 4 (Reuters) - India's REC RECM.NS plans to raise 30 billion Indian rupees ($313.48 million), including a greenshoe option of 25 billion rupees through the sale of bonds maturing in two years and nearly nine months, three bankers said on Thursday.
The state-run company has invited coupon and commitment bids for the issue on Monday, they said.
The company did not reply to a Reuters email seeking comment.
Here is the list of deals reported so far on June 4:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
REC | 2 years 8 months and 18 days | To be decided | 5+25 | June 8 | AAA (Care, Crisil, Icra |
*Size includes base plus greenshoe for some issues
($1 = 95.7000 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Ronojoy Mazumdar)
Recent news on REC
See all newsIndia's REC raises short-term funds at more than 8% for first time in seven years
India's REC drops to three-year low on Q2 profit fall
India New Issue-REC accepts bids for over 5-year bonds, bankers say
Brief: REC Sept-Quarter Consol Net Profit 34.78 Billion Rupees
India New Issue-REC to issue over 5-year bonds, bankers say