Power Finance Corporation said on Monday that the company will raise $1 billion through foreign currency denominated bonds.
In a filing with the BSE, the company said that Barclays Bank Plc, Standard Chartered Bank and SBICAPS (Singapore) Ltd have been mandated to organise meetings with proposed investors for the issue.
“The proceeds of the bonds, if and when issued, will be utilised for on-lending to the company’s borrowers in the power sector in rupee and/or foreign currency in accordance with the rules and regulations framed by the RBI,” the filing said.
“The offering of the bonds may follow, subject to market conditions,” it added.