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REC board okays Rs 85,000 cr borrowing plan for 2022-23
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REC board okays Rs 85,000 cr borrowing plan for 2022-23
Mar 21, 2022 12:52 PM

The board of state-run REC on Monday approved a proposal to raise up to Rs 85,000 crore in 2022-23 which includes Rs 75,000 crore from different type of bonds, term loans, external commercial borrowing among others.

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"The Board of Directors of REC Ltd in its meeting held on March 21, 2022, inter-alia approved the market borrowing programme under different debt segments for the financial year 2022-23," a BSE filing stated.

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The total borrowing plan approved by the board is for Rs 85,000 crore for 2022-23. According to the filing, the company has planned to raise Rs 75,000 through issuance of bonds, term loans and external commercial borrowings.

It will also raise up Rs 5,000 crore through short term loan from Banks/Fls/NBFCs etc. The company has also planned to raise Rs 5,000 crore through commercial papers.

First Published:Mar 21, 2022 8:52 PM IST

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