State-run Power Finance Corporation (PFC), reportedly is planning to raise at least Rs 150 crore via a private placement of tax-free bonds. The issue, which will open and close on the same day, i.e September 13, could be subscribed by only investors and corporate. PFC will issue 10-year tax-free bonds at 8.04%, 15-year bonds at 8.41%, and 20-year bonds at 8.40%.
Further, the firm will also issue a greenshoe option of Rs 376 crore and is rated ‘AAA’ by CRISIL, ICRA and CARE rating agencies.
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.
