January 21, 2013 / 9:17 AM / 5 years ago

India's REC raising 15 bln rupees in 5-yr bonds - sources

MUMBAI, Jan 21 (Reuters) - India’s Rural Electrification Corp Ltd fixed an annual coupon of 8.70 percent and was set to raise 15 billion rupees ($278.73 million) through the sale of five-year bonds, three traders said on Monday.

The firm scrapped the plans of raising funds in the seven-year tenure, they said.

The issue is tentatively scheduled to open and close on Tuesday.

$1 = 53.8150 Indian rupees Reporting by Archana Narayanan; Editing by Jijo Jacob

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