PFC Raises $300 Million in 5-Year Bonds as First Indian CPSU After RBI Swap
Updated
Updated · SolarQuarter · Jun 25
PFC Raises $300 Million in 5-Year Bonds as First Indian CPSU After RBI Swap
1 articles · Updated · SolarQuarter · Jun 25
Summary
$300 million was raised by Power Finance Corporation through five-year dollar bonds, making it the first Indian CPSU and NBFC to tap overseas markets after the RBI's special swap facility.
The senior unsecured notes were priced at 105 basis points over the five-year US Treasury and carry a 5.32% fixed coupon, signaling competitive funding terms.
Investors from Europe and Asia backed the issue, underscoring demand for Indian public-sector credit and confidence in India's economic outlook.
PFC said the proceeds will fund lending to power and infrastructure projects, a move that could support energy security and encourage more Indian issuers to seek global capital.