REC Gets Nod to Sell Deep-Discount Debt

India's REC has received approval from the central government to raise funds through deep-discount bonds for a second time in less than a year, a government document dated 30 May showed.

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REC has until the end of March 2027 to raise up to ₹5,000 crore ($581.7 million) through the sale of zero-coupon, deep-discount bonds, with a tenor of 10 years and six months.