REC Board Approves Borrowing Plan of Rs 85,000 cr for 2022-23

The board of state-run REC on Monday approved a proposal to raise up to Rs 85,000 crore in 2022-23, which includes Rs 75,000 crore from different types of bonds, loans terms, external commercial loans, among others.

“The REC Ltd Board of Directors at its meeting on March 21, 2022, notably approved the market borrowing program under various debt segments for the financial year 2022-23,” says a BSE filing. .

The total borrowing plan approved by the board is Rs 85,000 crore for 2022-23.

According to the filing, the company planned to raise Rs 75,000 through the issuance of bonds, term loans and external commercial loans.

He will also raise Rs 5,000 crore through short term loan from Banks/Fls/NBFC etc. The company has also planned to raise Rs 5,000 crore through commercial papers.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

Comments are closed.