Loan market unimpressed as India’s REC asks for $500m

28 Jul 2009

Rural Electrification Corp (REC) may struggle to attract demand for a $500m financing package, bankers warned this week, dampening hopes of a rebound in India’s offshore debt markets.

State-owned REC invited proposals last week for a $200m five year loan and a $300m bond, both of which will be used for general corporate purposes.

It is the second time this year that REC has asked international banks for financing proposals, following an RFP in January for ...

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