PFC raises USD 300 mn via bonds carrying floating interest rates
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Listen to this article in summarized format The net proceeds from the issuance of these Notes will be used in accordance with the external commercial borrowing guidelines of the Reserve Bank of India, an exchange filing said. According to the filing, the PFC has priced a transaction of USD 300,000,000 Floating Rate Notes due 2029 under its USD 8,000,000,000 Global Medium Term Note Programme having a maturity of 3 years and coupon of 0/N SOFR + 110 bps per annum payable quarterly in arrears on each Interest Payment Date i.e. 16th October, 16th January, 16th April and 16th July. Power Finance Corporation, a state-run entity, has triumphantly secured USD 300 million via bonds that feature floating interest rates. Following the guidelines set by the RBI, these Notes are set to mature in July 2029 and will provide payments in US Dollars. They are scheduled for listing on NSE IFSC and India INX, marking a significant financial achievement. The settlement date for the Notes is expected to be 16th July 2026. Unless previously redeemed pursuant to the terms and conditions of the Notes, the Notes will mature on 16th July, 2029 and principal and interest payments will be made in US Dollars. The Notes represent direct, unconditional and unsecured obligations of the PFC and will rank pari passu among themselves and all other unsecured obligations of the Issuer. The Notes will be listed on NSE IFSC and India INX, it stated. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
document fetched 2026-07-11 07:55