Power Finance Corporation Ltd.

Power Finance Corporation (PFC) will raise external commercial borrowings (ECBs) worth $1 billion. The company has mandated Barclays Bank PLC, Standard Chartered Bank and SBICAPS (Singapore) for the issue.

The proceeds of the Notes, if and when issued, will be utilized for on-lending to the company’s borrowers in the power sector in rupee and/or foreign currency.

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.