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REC to conduct roadshows overseas to raise $300 million

Last month we had talked about the state-run Rural Electrification Corporation plans to set up renewable energy projects entailing an investment of about Rs 2,800 crore in the next five years.

REC had talked about a plan to have around 300 to 400 MW capacity in renewable energy over the next 4-5 years.

Earlier this month, state-run Rural Electrification Corporation had said that it was  planning to invest in equities that could offer returns of up to 30 per cent, as part of efforts to boost stakeholders’ value.

According to reports, Rural Electrification Corp will organise roadshows next month in Singapore and Hong Kong to raise loans to the tune of $300 million.

A top company official said today that roadshows would be held in Singapore and Hong Kong for raising $300-million worth of loans, which will have a term of five years.

The roadshows are likely to be held between August 6 and 8. Lenders including Bank of Tokyo-Mitsubishi UFJ and Mizuho Financial Group have been appointed by the company to raise $300 million through loan  syndication, sources said.

According to the official, the company is expected to conduct roadshows for its planned Swiss franc bond issue in mid-August.

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