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Power Finance Corporation (PFC) launched its maiden €300 million 7-year Euro Bond issuance on September 13 which got oversubscribed 2.65 times by institutional investors across Asia and Europe, the company said Thursday in a statement. The pricing of 1.841 per cent achieved is the lowest yield locked in by an Indian issuer in the Euro markets, it added.
“It is not only the first Euro bond issuance by PFC but also the first ever Euro-denominated Green bond issuance from India. Moreover, it is the first Euro issuance by an Indian non-banking finance corporation(NBFC) and the first Euro bond issuance from India since 2017,” the release further added.
“The overwhelming response to the issuance reflects international investors’ confidence in PFC. This issuance also demonstrates our commitment for achieving India’s renewable energy goals. Further, this bond issuance would help PFC in diversifying its currency book as well as the investor base,” Chairman and Managing Director, RS Dhillon, PFC said.
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