REC raises $400 million via dollar bonds in London

Published On: 13, Dec 2017 | Source:

State-run on Wednesday said it has raised $400 million through Dollar Bonds in on December 11.

"The concluded a $400 million Reg S bonds deal in on December 11, 2017," an statement said.

According to the statement, the bond is priced at 115 basis points over three years US Treasury and is for refinancing the existing ECB, being first of its kind by any Indian PSU.

The equivalent pricing of 6M Libor plus 83bps spread is the best for any Indian PSU in the last decade. priced its bond at the tighter end of the pricing guidance, highlighting a strong appetite from investors, it said.

This is the second international bond transaction by this year. The company had successfully raised green bonds of  $450 million in July this year, it added.