Power Finance Corp issues Green Bond

New Delhi [India]: Power Finance Corporation Ltd (PFC) has successfully issued its maiden Euro 300 million 7-year Euro Bond issuance on September 13, informed the Ministry of Power on Wednesday.
The pricing of 1.841 per cent achieved is the lowest yield locked in by an Indian issuer in the Euro markets, as per the release by the Power Ministry. “It is the first-ever Euro denominated Green bond issuance from India. Moreover, it is the first-ever Euro issuance by an Indian Non-Banking Financial Company (NBFC) and the first Euro bond issuance from India since 2017,” it said.
“The issuance saw strong participation from institutional investors across Asia and Europe with participation from across 82 accounts and was oversubscribed 2.65 times,” adds the release.

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