PFC lists $750 million bonds at NSE IFSC; increases foreign borrowing

Looking at resolving 4 more stressed power assets this fiscal

State-owned power financier Power Finance Corp (PFC) has, for the first time, listed its foreign currency bonds worth $750 million on NSE-IFSC GIFT City. The bonds will also be listed on India INX and Singapore Stock Exchange. This is the largest single tranche of international bond issue by PFC, the country’s largest non-banking financial company (NBFC) in the power sector.

PFC became the first Indian public sector firm to issue senior unsecured US Dollar bonds with a tenor of more than 10 years last week. The bonds had a coupon rate of 3.95 per cent and was oversubscribed with the final