Dua Associates represents REC Limited in Bonds Issue of Rs. 1999.50 crores

Dua Associates representing REC Limited (formerly known as Rural Electrification Corporation Limited) a Navratana public sector undertaking (PSU) has recently concluded the successful issuance of unsecured, redeemable, non-convertible, non-cumulative, subordinated Tier II, taxable bonds in the nature of Debentures of Rs.1999.50 crores through private placement route.

A team comprising of Salil Gulati (Partner), Shailendra Somvanshi (Partner) and Sahil Dhawan (Principal Associate)handled the transactionfor this newly acquired client. The work also included preparation and finalization of the Private Placement Offer Letter/Information Memorandum, various compliances under Companies Act, 2013, applicable SEBI Regulations, RBI Circulars, Master Directions, etc.

The team continues to assist REC Limited in drafting and finalization of other transaction documents including Bond Trustee Agreement, Bond Trust Deed, advising on stamp duty implications, etc., in relation to these Bonds.

About Dua Associates : One of India’s leading law firms, Dua Associates was set up in 1986 and serves a wide spectrum of clients drawn from multi nationals including several Fortune 500 companies, publicly-listed companies, public-sector enterprises, privately-owned businesses, as well as many multinational and multilateral organizations. Dua Associates recognizes that clients’ needs often transcend specialties. The Firm is widely recognized for the depth of experienced legal talent and the significant experience of its 67 partners and over 250 additional legal professionals.