Power Finance Corp. Ltd (PFC) plans to raise up to ₹5,000 crore through a public issue of secured, redeemable non-convertible debentures (NCDs).
The state-run company will launch the issue for subscription on Friday. The base size of the issue has been kept at ₹500 crore with a greenshoe option of up to ₹4,500 crore.
The first tranche of the issue will close on 29 January, with an option for early closure or extension. The bonds have maturity of three, five, 10 and 15 years.
The three-year bond in Series I will offer a fixed coupon rate of 4.65% per annum to 4.80% per annum, while the five-year bond in Series II will offer fixed coupon rates of 5.65-5.80% per annum, depending on the category of investors.
