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India's REC invites bids to raise at least 5 bln rupees via bonds
January 28, 2014 / 10:22 AM / 4 years ago

India's REC invites bids to raise at least 5 bln rupees via bonds

MUMBAI, Jan 28 (Reuters) - India’s Rural Electrification Corp Ltd (REC) has invited bids on Wednesday to raise at least 5 billion rupees ($79.06 million) through an issue of five-year bonds, two sources with direct knowledge of the deal said.

REC bond sale will follow an issuance by Power Finance Corp soon after the central bank unexpectedly riased repo rate by 25 basis points to dampen inflation. ($1 = 63.2400 rupees) (Reporting by Archana Narayanan; Editing by Anand Basu)

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