PFC borrows USD 300 Million through Syndicated Loan

Sarkaritel
By Sarkaritel July 1, 2019 13:09

PFC borrows USD 300 Million through Syndicated Loan


New Delhi, July 01 Power Finance Corporation Limited (PFC) has successfully raised equivalent USD 300 Million through 3 Year Syndicated Loan from State Bank of India, Hong Kong and MUFG Bank Limited, Singapore.

This is PFC’s second foreign currency borrowing in the current Quarter. Earlier, PFC raised USD 1 Billion through issuance of Reg-S bonds which was the biggest bond issuance overseas by a Govt. owned NBFC.

By concluding the current USD 300 million deal, PFC has already mobilized USD 1.3 Billion indicating investor’s confidence in PFC post acquisition of Government shareholding of 52.63% in REC Limited.

Sarkaritel
By Sarkaritel July 1, 2019 13:09