PFC first Indian entity to issue Euro green bond
NEW DELHI: State-run power sector lender PFC became the first Indian entity to launch Euro-denominated green bond with a €300-million (about $352 million) issuance that was oversubscribed by 2.6 times by institutional investors across Asia and Europe, the company said in a statement on Thursday.
It is also the first Euro issuance by an Indian NBFC (non-banking finance corporation) and the first Euro bond issuance from India since 2017, company claimed.
The pricing of 1.8% achieved is the lowest yield locked in by an Indian issuer in the Euro markets, the company added.
“The bond issue would help PFC in diversifying its currency book and the investor base,” the statement quoted company CMD R. S. Dhillon as saying.
