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PFC raises Rs 4,000 crore in few hours via private placement route

02 Dec 2011 Evaluate

State-run utility Power Finance Corporation (PFC) has raised about Rs 4,000 crore in just a few hours on December 01 through a private placement of debt as institutional investors such as mutual funds and insurance firms. The issue was sold out in a few hours. Mutual funds bought lower maturity bonds, while insurance companies and the Employees Provident Fund Organisation (EPFO) bought longer-tenured papers.

The company raised the money by issuing bonds of varying maturities. The three, five and seven-year (taxable) bonds were issued at coupon rates of 9.63%, 9.64% and 9.70% respectively.

The bond offering rated AAA was subscribed quickly by mutual funds, insurance companies, the EPFO, which runs the largest social security scheme in the country, and also some bond traders.

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.

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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