The government company REC raised Rs 5,780 crore on Monday from different periods of bonds. According to sources, Canara Bank has also raised Rs 4,000 crore through Tier 2 Bonds. Apart from these, the National Agricultural and Rural Development Bank (NABARD) and the Small Electrical Development Bank of India (SIDBI) are going to raise Rs 17,000 crore from the domestic capital loan market this week.
REC (whose name was earlier Rural Electrification Corporation) on Monday raised Rs 3,000 crore at a rate of Rs 7.44 per cent through a bond of 2 years 11 months. Apart from this, it raised Rs 2,780 crore on a period of 9 years 11 months at the rate of 7.32 per cent. REC landed in the market to raise around Rs 6,000 crore. Canara Bank raised Rs 4,000 crore at the rate of a coupon of 7.46 per cent.
Apart from this, Can Fin Holmes raised Rs 1,510 crore from mature bonds in May, 2027 at a coupon rate of 8.20 per cent. Meanwhile, Muthoot Finance has raised Rs 950 crore from the bonding bonds in 2028 at the rate of 8.60 per cent. The government company PFC raised Rs 7.75 per cent and Rs 5,685 crore at a rate of 7.75 per cent and 7.45 per cent respectively on the periods of maturity of 1 year 29 days and 3 years 28 days through bonds last week.
Venkatakrishnan Srinivasan, founder and management partner of Rockfort Finquap LLP, said, “The corporate bond market is moving towards a week with more supply and during this time the issuers are carefully managed in view of the cash tension and constant long -term yield pressure. There has been pressure on the long -term yield in view of the increased supply of state development loan.
First Published – March 17, 2025 | 11:07 pm IST
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(Tagstotranslate) Rec bonds