State-run lending agency, Power Finance Corporation (PFC), will be launching tax free bond issue to garner up to Rs 4,590 crore. The issue which will open from December 14 will close on December 21. The bond issue would be for a period of 10-15 years offering an interest rate between 7.19% and 7.86%. The bonds are proposed to be listed on the BSE.
Recently Power Finance Corporation (PFC) has disbursed Rs 7,400 crore of transitional loan to five financially ailing State Electricity Distribution Utilities (Discoms). These states include Punjab, Haryana, Uttar Pradesh, Rajasthan and Tamil Nadu.
PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.
