Lenders slam REC over fourth request for offshore loan

India’s Rural Electrification Corp (REC) drew sharp criticism from bankers this week as it asked for proposals on an offshore loan for the fourth time this year.

  • 15 Dec 2009

State-owned REC has asked banks to submit pricing bids for a $200m five year bullet loan, joining a number of Indian borrowers that are looking to tap the international markets after a marked fall in pricing.

But it is the fourth time this year that REC has asked ...

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