The proceeds of the so-called green bonds will be used to fund environmentally-friendly projects.
These bonds will be the first of its kind issued by REC under their USD 1 billion medium term note (MTN) programme.
Barclays, BNP Paribas, HSBC, ANZ Grindlays and Mitsubishi UFG are the bankers to the issue.
Moody’s Investors Service, assigned a Baa3 rating to the proposed senior unsecured green bond and (P)Baa3 long-term rating to the company’s $1 billion MTN program.
Rural Electrification Corporation Ltd is currently trading at Rs 177.5, down by Rs 4.1 or 2.26% from its previous closing of Rs 181.6 on the BSE.
The scrip opened at Rs 182.1 and has touched a high and low of Rs 182.25 and Rs 175.6 respectively. So far 5275324(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 35864.51 crore.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 223.8 on 09-May-2017 and a 52 week low of Rs 77.63 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 191.5 and Rs 181.1 respectively.
The promoters holding in the company stood at 58.86 % while Institutions and Non-Institutions held 32.24 % and 8.9 % respectively.
The stock is currently trading below its 50 DMA.