PFC Raises $300 Million Through Five Year Dollar Bond

Power Finance Corp Secures $300 Million in Global Bond Market

Power Finance Corporation (PFC) has successfully tapped into the international bond market, raising $300 million in a significant move for India's financial landscape. This issuance represents the country's second since the Reserve Bank of India's special swap arrangement was introduced. The five-year bond was issued at a competitive rate, priced at 105 basis points over US Treasuries, and drew a robust response from investors.

This strategic fundraising takes advantage of the RBI's 1.5% fixed-rate swap for external borrowings, a favorable condition that has prompted other leading Indian banks to explore similar bond issuances. As the financial environment evolves, PFC's successful venture underscores the increasing appetite for Indian securities in global markets.