Chairman and Managing Director of PFC, R.S. Dhillon expressed satisfaction that despite the challenging COVID situation being witnessed globally, PFC’s bond offer attracted wide participation from international investors. The deal concluded at very attractive terms, which reflects the confidence of investors in PFC’s business as well as its credit profile and the growth story of the Indian Power sector.
Power Ministry said that this is the longest tenor bond issuance from India since the start of the year. The bonds have a fixed coupon of 3.35% p.a. which was inside the fair value of PFC’s secondary bonds.
Notably, the order book amounted to $2.55 billion, achieving an oversubscription of 5.1 times.
On Sensex, PFC settled at Rs125 per piece up 5.17%.