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PFC to raise Rs 150 crore via 10-year subordinated tier II bonds

05 Jun 2013 Evaluate

State-run lender, Power Finance Corporation (PFC) is now planning to raise at least Rs 150 crore through an issue of 10-year subordinated tier II bonds which are rated as ‘AAA’ by CRISIL and ICRA. The proceeds from this sale will be utilized to strengthen capital adequacy and augment long-term resources.

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.

Peers
Company Name CMP
Power Finance Corpn. 322.55
REC 297.05
NHIT 168.00
Satin Creditcare Net 251.35
IFCI 58.42
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