In compliance with provisions of Regulation 30 of SEBI (LODR) Regulations, 2015, this is to inform that Rural Electrification Corporation Limited has launched an issue of U.S.$ 400,000,000 3.068 per cent Notes due 2020, priced on December 11, 2017. The Notes will mature on 2020 and all principal and interest payments will be made in U.S. Dollars. The settlement date for the Notes is expected to be December 18, 2017.
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 the Singapore Exchange (SGX) and the London Stock Exchanges International Securities Market (ISM).
The net proceeds from the sale of the Notes will be applied for refinancing the outstanding external commercial borrowings of the Issuer within the ambit of the ECB Guidelines and such other guidelines specified by the Reserve Bank of India.