Power Finance taps international bond market to raise Euro 300 mn

Power Finance Corporation launched issuance of Euro 300,000,000 1.841 per cent notes due 2028 under the U.S. $8,000,000,000 Global Medium Term Note Programme. The Notes have been priced on 13 September 2021 and carry a coupon of 1.841 % per annum payable in arrear on each Interest Payment Date. The settlement date for the Notes is expected to be 21 September 2021.

Unless previously redeemed pursuant to the terms and conditions of the Notes, the Notes will mature on 21 September 2028 and principal and interest payments will be made in Euro.

The Notes represent direct, unconditional and unsecured obligations of the PFC and will rank pari passu among themselves and all other unsecured obligations of the Issuer. The Notes will be listed on the Singapore Exchange Securities Trading , NSE IFSC and India INX.

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