Power Finance Corporation Ltd.

BSE: 532810 | NSE: PFC
Large Cap | Finance Term Lending
375.45
3.65 (0.98%)
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PFC receives RBI’s approval for $1 billion overseas debt issue

Date: 21-09-2011

Power Finance Corporation (PFC), the state-run power financier, will raise $1 billion around Rs 4,600 crore via offshore medium-term note borrowings. The company has received RBI’s nod for the same. This issue will mark the company’s debut in the international bond market.

In the next 6-8 weeks, the company expects to set up an Euro Medium Term Note (EMTN) programme and will appoint bankers for the offering by September end. The borrowing will be utilised for funding the power projects, including ultra mega power projects, financed by the company.

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.