News Digest

02 December 2017
PFC raises $400 m via green bond

Power Finance Corporation has raised $400 million through its maiden green bond issue, the company said. “PFC has successfully priced this 10-year Reg S Green Bond at a fixed rate coupon of 3.75 per cent. The pricing of this bond saw the tightest ever spread of 157.5 bps over 10-Year US Treasury by any Indian issuer for their inaugural 10-year transaction,” the statement added. “PFC has seen a significant jump in its renewable business with loan disbursements growing five times over the last three years. The bond is Climate Bonds Initiative certified and is being listed on London Stock Exchange and Singapore Stock Exchange,” the statement said.

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