REC looking to raise 15 bln rupees via bonds-sources

MUMBAI, Nov 3 (Reuters) - Rural Electrification Corp (REC) (RURL.BO) is looking to raise about 15 billion rupees via bonds and has called for a meeting of arrangers on Tuesday, two bankers said.

"There is no tenor specified. The company generally borrows at least 10 billion rupees at a time, but the quantum could be raised even further as right now rates are quite good," said a banker.

On Friday, 10-year top-rated bonds issued by state-run companies were quoted at around 8.82 percent, down from 8.85 a week earlier.

Indian corporate bonds have tracked their federal counterparts after the central bank last week raised the statutory liquidity ratio (SLR), or the proportion of deposits banks have to hold in approved government securities.

At its policy review, the central bank held key rates steady, but warned on inflation and began withdrawing its emergency liquiidity support measures which were put in place last year to protect Asia's third-biggest economy from the global downturn.

Nine out of 20 analysts polled by Reuters after the RBI's statement expected the central bank to raise its benchmark repo rate, at which it lends short-term funds to banks, by up to 50 basis points by end-January, when the next review is due. [ID:nBNG544644] (Reporting by Jeanette Rodrigues; Editing by Sunil Nair)