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PFC raises $500 million via issuance of dollar-denominated bonds

03 Feb 2021 Evaluate

Power Finance Corporation (PFC) has raised $500 million through the issuance of dollar-denominated bonds under ‘Reg S route’ with a fixed maturity of May 16, 2031.
This is the longest tenor bond issuance from India since the start of the year. The bonds have a fixed coupon of 3.35 percent per annum which was inside the fair value of PFC’s secondary bonds.

The order book amounted to around $2.55 billion, achieving an oversubscription of 5.1 times. The proceeds from bonds will be utilized in accordance with the external commercial borrowing regulations of the Reserve Bank of India including for on-lending to power sector utilities.

PFC is central PSU under Ministry of Power and India's leading NBFC.

Power Finance Corp Share Price

464.85 5.85 (1.27%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Power Finance Corp 464.85
REC 373.35
Indian Railway Fin. 104.85
NHIT 151.00
Satin Creditcare 174.75
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