Power Finance Corporation (PFC) has hit the dollar bond market after almost two decades with roadshows to market its $450 million, 10-year green dollar bonds in Singapore. It has also planned investor meetings in Hong Kong and London. The money raised may mostly be used for fresh disbursements for renewable energy projects. Moody's upgrading of India's sovereign rating may help PFC secure better terms.
Indian firms and banks have issued foreign currency bonds worth $13.15 billion so far with the latest issuance coming from Reliance Industries which priced its bonds at 130 basis points over the 10-year US Treasury yield.
PFC scouting dollar-bond market to raise $450 million
By IndianMandarins - 2017-11-25 09:07:11
Power Finance Corporation (PFC) has hit the dollar bond market after almost two decades with roadshows to market its $450 million, 10-year green dollar bonds in Singapore. It has also planned investor meetings in Hong Kong and London. The money raised may mostly be used for fresh disbursements for renewable energy projects. Moody's upgrading of India's sovereign rating may help PFC secure better terms.
Indian firms and banks have issued foreign currency bonds worth $13.15 billion so far with the latest issuance coming from Reliance Industries which priced its bonds at 130 basis points over the 10-year US Treasury yield.
