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Power Finance Corporation has sought to raise $500 million through medium-term notes maturing in December 2028.
The proceeds from the issue will be used by PFC to finance power projects and for general corporate purposes in line with guidelines on external commercial borrowings.
In a statement to the BSE, PFC said these notes carry an annual coupon rate of 6.15 per cent that will be paid semi-annually, in arrears. These notes will mature on December 6, 2028, and all rupee principal and interest payments will be made in US dollars.
The notes will be listed on the Singapore Exchange Securities Trading Ltd, India International Exchange Ltd (IFSC — India-INX), and NSE-IFSC Ltd, the company said.
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