Power Finance Corporation Limited (PFC) has successfully raised equivalent $300 Million through 3 Year Syndicated Loan from State Bank of India, Hong Kong and MUFG Bank Limited, Singapore.
This is PFC’s second foreign currency borrowing in the current Quarter. Earlier, PFC raised $1 Billion through issuance of Reg-S bonds which was the biggest bond issuance overseas by a Government. owned NBFC.
By concluding the current $300 million deal, PFC has already mobilized $1.3 Billion indicating investor’s confidence in PFCpostacquisition of Government shareholding of 52.63% in REC Limited.