State-run Rural Electrification Corporation Ltd (REC) has launched an issue of USD 300 million (Rs 1,949 crore) through 10-year dollar-denominated bonds that carry an interest of 4.625 per cent.
"Rural Electrification Corporation Ltd has launched an issue of USD 300,000,000 at 4.625 per cent. Notes will mature on March 22, 2028, and all the principal and interest payments will be made in US dollars," the company said in a regulatory filing.
REC said the funds would be used to finance projects in India's power infrastructure sector.
The bonds will be listed on Singapore Exchange (SGX) and London Stock Exchange's International Securities Market (ISM).
In September last year, REC had received shareholders approval to raise up to Rs 65,000 crore via bonds over the next one year.
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