REC Limited has launched an issue of US$ 650,000,000, 3.375 per cent Notes due 2024, priced on July 18, 2019. The Notes will mature on July 25, 2024 and all principal and interest payments will be made in U.S. Dollars. The settlement date for the Notes is expected to be July 25, 2019.
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.
Shares of REC Ltd was last trading in BSE at Rs.148.1 as compared to the previous close of Rs. 147.65. The total number of shares traded during the day was 526753 in over 1793 trades.
The stock hit an intraday high of Rs. 149.95 and intraday low of 145.95. The net turnover during the day was Rs. 77802328.