PFC raises €300 million in green bonds
The Hindu
Power Finance Corporation Ltd (PFC), said it has successfully issued its maiden €300 million 7-year Euro Green Bond issuance this week. “The pricing of 1.841% achieved is the lowest yield locked in th
Power Finance Corporation Ltd (PFC), said it has successfully issued its maiden €300 million 7-year Euro Green Bond issuance this week. “The pricing of 1.841% achieved is the lowest yield locked in the Euro markets. This is a milestone issuance for PFC and this is the first-ever Euro-denominated Green bond issuance from India,” the company said in a statement.
The issuance saw a strong participation from institutional investors across Asia and Europe with a participation from across 82 accounts and was oversubscribed 2.65 times, it said.
R.S. Dhillon, CMD, PFC said, “The overwhelming response to the issuance reflects international investor’s 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.”
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