Power Finance Corporation (PFC) has successfully raised USD 500 Million through issuance of USD Denominated Bonds under ‘Reg S route’. The Bonds have a Fixed Coupon of 3.35% and will mature on May 16, 2031 making it the Longest Tenor Bond Issuance from India since the start of 2021.
- Totally it has raised around USD 2.55 Billion, which is an oversubscription of 5.1 times.
- The funds will be used for the purpose of Lending to Power Sector Utilities.
- The proceeds will be utilized based on the External Commercial Borrowing regulations of the Reserve Bank of India.
i.In January 2021, PFC had launched the maiden public bond sale for Retail Investors to raise INR 5, 000 Crore.
- It was the first such issuance since the State Bank of India floated public offer in 2010.
Recent Related News:
i.On November 26, 2020, Power Finance Corporation Ltd (PFC) & REC Limited signed a MoU with SJVN Thermal (P) Limited (STPL) at for extending Term Loan of INR 8520.46 Crores for 2×660 MegaWatts (MW) Buxar Thermal Power Project, Bihar.
About Power Finance Corporation Ltd (PFC):
It is a Government of India Undertaking company
Chairman & Managing Director (CMD) – Ravinder Singh Dhillon
Headquarters – New Delhi