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| Exchange Received Time 01/07/2019 16:50:46 Exchange Disseminated Time 01/07/2019 16:50:51 Time Taken 00:00:05 | PRESS RELEASE
PFC borrows USD 300 Million through Syndicated Loan
Power Finance Corporation Limited (PFC) has successfully raised equivalent USD 300 Million through 3 Year Syndicated Loan from State Bank of India, Hong Kong and MUFG Bank Limited, Singapore.
This is PFC's second foreign currency borrowing in the current Quarter. Earlier, PFC raised USD 1 Billion through issuance of Reg-S bonds which was the biggest bond issuance overseas by a Govt. owned NBFC.
By concluding the current USD 300 million deal, PFC has already mobilized USD 1.3 Billion indicating investor''s confidence in PFC post acquisition of Government shareholding of 52.63% in REC Limited.
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