India’s REC to light up $180m, mandates two

electricity
By Rashmi Kumar
13 Mar 2014

Rural Electrification Corp has mandated two banks for a $180m five year facility, managing to increase it from the $150m the borrower had asked for in its request for proposals.

Mizuho Bank and State Bank of India have been picked as the bookrunners and mandated lead arrangers of the Indian state-owned group’s fundraising, according to two bankers.

The Japanese bank has committed $30m, while SBI has taken $150m. The deal also comes with a greenshoe option of ...

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