Power Finance Corporation Ltd.

Power Finance Corporation (PFC) has successfully tapped international market and raised $1 billion through Reg-S bonds in one go. This was the PFC's first issuance in the international market after successful acquisition of Government of India holding in REC.

The $1 billion Reg-S transaction was executed through two tranches. The 5 year tranche for $400 million at 3.87% at a reoffer spread of 195 bps over 5 year UST and 10 year tranche for $600 million at 4.577% at a reoffer spread of 242.5 bps over 10 year UST.

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.