Power Finance Corporation Ltd to raise $1 billion through issue of Foreign Currency Denominated Bonds

For the purpose of raising external commercial borrowing up to U.S.$ 1 billion, Power Finance Corporation Ltd has mandated Barclays Bank PLC, Standard Chartered Bank and SBICAPS (Singapore) Limited to organize meetings with proposed investors in relation to issue of the Notes. The proceeds of the Notes, if and when issued, will be utilized for on-lending to the Company's borrowers in the power sector in rupee and / or foreign currency, in accordance with the rules and regulations framed by the Reserve Bank of India. The offering of the Notes may follow, subject to market conditions.

For the purpose, in terms of Company's Code of Conduct for regulating & reporting trading by insiders and for fair disclosure, 2015, the trading window for dealing in the securities of the Company will be closed for all designated employees and their dependent family member from June 16, 2015 till further orders.

Shares of POWER FINANCE CORPORATION LTD. was last trading in BSE at Rs.261.9 as compared to the previous close of Rs. 259.1. The total number of shares traded during the day was 99885 in over 2053 trades.

The stock hit an intraday high of Rs. 265.05 and intraday low of 258.05. The net turnover during the day was Rs. 26162674.

Source : Equity Bulls

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