State-owned Power Finance Corp is likely to kick off meetings with fixed income investors next week for a potential debut offering of US dollar bonds.
The meetings will be arranged by Barclays, SBI Caps and Standard Chartered, who were hired a year ago for the potential offering, sources aware of the situation said.
The bonds would be issued out of a US$1 billion GMTN programme already registered with the Singapore Exchange.
PFC has been an active borrower in the offshore loan markets but has never borrowed in the bond markets.
In October 2012, PFC had completed a roadshow via RBS and Bank of America Merrill Lynch for a potential US$500-750 million Reg S offering, but did not launch a deal. That mandate had expired.
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