Power Finance Corporation issues Euro 300 million 7-year Euro Bond

It is the first-ever Euro denominated Green bond issuance from India. Moreover, it is the first-ever Euro issuance by an Indian NBFC and the first Euro bond issuance from India since 2017.

Power Finance Corporation Ltd (PFC), the leading NBFC in the power sector, has successfully issued its maiden Euro 300 million 7-year Euro Bond issuance on 13.09.2021. The pricing of 1.841% achieved is the lowest yield locked in by an Indian issuer in the Euro markets.

It is the first-ever Euro denominated Green bond issuance from India. Moreover, it is the first-ever Euro issuance by an Indian NBFC and the first Euro bond issuance from India since 2017.

The issuance saw strong participation from institutional investors across Asia and Europe with participation from across 82 accounts and was oversubscribed 2.65 times.

(With Inputs from PIB)