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REC invites bids to raise at least INR 5 bn via bonds

Rural Electrification Corp Ltd (REC) has invited bids on Wednesday to raise at least INR 5 billion ($79.06 million) through an issue of five-year bonds, two sources with direct knowledge of the deal said.REC bond sale will follow an issuance by Power Finance Corp soon after the central bank unexpectedly riased repo rate by 25 basis points to dampen inflation.
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