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

The board of state-run REC approved on Monday a proposal to raise Rs 85,000 crore in 2022-23, including Rs 75,000 crore from various types of bonds, term loans and external commercial loans.

“The board of directors of REC Ltd, in its meeting of March 21, 2022, has approved, among other things, the market lending program for various debt segments for the fiscal year 2022-23,” according to a BSE filing.

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

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

It will also raise Rs 5,000 crore through short-term loans from banks/FLs/NBFCs etc. The company also plans to raise Rs 5,000 crore through commercial papers.


This post REC Board Approves Rs 85,000 Crore Loan Plan for 2022-23 was original published at “https://www.financialexpress.com/industry/rec-board-approves-rs-85000-crore-borrowing-plan-for-2022-23/2467019/”

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