NEW ISSUE-REC opens 5 bln rupee bond sale-arrangers

MUMBAI, Nov 4 (Reuters) - State-run Rural Electrification Corp (RURL.BO: Quote, Profile, Research) on Wednesday opened a 5-billion-rupee bond issue, three arrangers to the transaction said. The issue is expected to close on Nov. 9, they said. The bonds are of three years at a coupon of 7.75 percent, payable annually and 10-year at 8.80 percent, payable annually.

The issue has an unspecified greenshoe to retain oversubscription, the arrangers said. (Reporting by Anurag Joshi; Editing by Sunil Nair)