Rural Electrification Corporation (REC) has raised $398.5 million in a sale of notes, The Wall Street Journal reports. The Indian state-run lender to the power sector issued $332.8 million of bonds that mature after one year and one day. The New Delhi-based company also raised $66.57 million by selling three-year securities. REC was initially planning to raise around $110 million through the two bonds, but later increased the offering after bids exceeded the original size.
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