PFC to raise Rs 10,000 crore through retail bond issues

State-run Power Finance Corp (PFC) seeks to raise up to Rs 10,000 crore in the current financial year through public issue of bonds in two tranches. The company’s first secured, redeemable non-convertible debentures public issue offers options for tenures of 3, 5, 10 and 15 years.

The 3-year tenure bonds offer a fixed coupon rate of 4.65% per annum to 4.80% per annum, while the 5-year tenure will offer fixed coupon rate of 5.65% – 5.80% depending on the category of investors. The 10-year tenure bonds offer fixed annual coupon rate of 6.63% to 7.00% or floating coupon rate benchmarked to 10 year G-Sec plus a spread of 55 – 80 basis points.

The 15-year tenure non-convertible debenture offers a range of fixed coupon rates with maximum coupon rate of 7.15% p.a.

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