REC Limited has issued US$ 500,000,000, 4.75 per cent Notes due 2023, on May 12, 2020. The Notes will mature on May 19, 2023 and all principal and interest payments will be made in U.S. Dollars. The settlement date for the Notes is expected to be May 19, 2020.
The Notes represent direct, unconditional and unsecured obligations of the Issuer and will rank pari passu among themselves and all other unsecured obligations of the Issuer. The Notes will be listed on London Stock Exchange’s International Securities Market (ISM), Singapore Exchange (SGX-ST), India International Exchange (India INX) and NSE IFSC. The net proceeds from the sale of the Notes will be applied for lending to Power Sector.
