Power Finance Corporation raises Rs 3,000 cr via bonds

Power Finance Corporation (PFC) has raised R3,000 crore through short-tenure bonds, two arrangers familiar with the transaction told FE.  “PFC has raised R1,500 crore through two-year bonds at a coupon rate of 8.35%, and another R1,500 crore via 3-year bonds at 8.39%,”  bond arrangers, said. On Monday, Power Grid Corporation (PGC) had raised R2,928 crore through bonds having a tenure of 15 years with stripped payments ranging from the end of the fourth year till the 15th year at a coupon rate of 8.40%, said sources.

The market was expecting PFC to issue bonds across four different tenures — two years with bullet payment; one year, eleven months and 26 days; three years with bullet payment and two years, eleven months and 26 days.

 

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Amit Antil

After doing Power Management (MBA) from National Power Training Institute (NPTI), Amit Antil is now presently working with Today Green Energy Pvt. Ltd. and looking after business development activities for Solar. Earlier he was associated with leading power trading company Global Energy for 3 years. He has a sound knowledge about bidding, power trading, open access, REC trading, Govt. Liaisoning, Contract Negotiation, Power Purchase Agreement.

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