New Delhi: Power Finance Corporation Ltd (PFC), the nation’s biggest lender to the power sector, on Thursday announced the launch of its maiden taxable bond issue of Rs 5,000 crore for individual buyers that will open on January 15. This first tranche is set to close on January 29.
PFC is planning to raise Rs 10,000 crore through bonds (NCDs) in two tranches.
Addressing the media at the launch of the bond issue, PFC Chairman and Managing Director R S Dhillon said the company is bringing the issue on diversification basis and it would like to do it again going forward.
About raising the entire Rs 10,000 crore during this fiscal only, Dhillon said it would be done based on response to the issue of the first tranche.
PFC had previously sold tax-free infrastructure bonds to retail investors and this would be its maiden taxable issuance to individual buyers.
Dhillon also said the company has raised Rs 67,000 crore during this fiscal against the overall borrowing plan of Rs 1.18 lakh crore for 2020-21.
