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India's Rural Electrification raises US$300M via bonds issue

India's Rural Electrification Corp. Ltd. has raised US$300 million through an issuance of bonds.

The bonds, which have a 10-year tenor, have a 4.625% coupon rate. The order book for the offering was more than US$900 million.

Proceeds from the issue will be used for the development of the country's power sector.