Power Finance Corporation Ltd updates on Notes issue

Power Finance Corporation Ltd (PFC) launched issuance of Euro 300,000,000 1.841 per cent notes due 2028 under the U.S. $8,000,000,000 Global Medium Term Note Programme. The Notes have been priced on 13th Sep 2021 and carry a coupon of 1.841% per annum payable in arrear on each Interest Payment Date. The settlement date for the Notes is expected to be 21st September 2021.

Unless previously redeemed pursuant to the terms and conditions of the Notes, the Notes will mature on September 21, 2028 and principal and interest payments will be made in Euro.

The Notes represent direct, unconditional and unsecured obligations of the PFC and will rank pari passu among themselves and all other unsecured obligations of the Issuer. The Notes will be listed on the Singapore Exchange Securities Trading Limited, NSE IFSC and India INX.

The net proceeds from the issuance of these Notes will be utilized in accordance with the external commercial borrowing regulations of the Reserve Bank of India.

Shares of Power Finance Corporation Ltd was last trading in BSE at Rs. 137.35 as compared to the previous close of Rs. 138.3. The total number of shares traded during the day was 527200 in over 5605 trades.

The stock hit an intraday high of Rs. 140.75 and intraday low of 137.2. The net turnover during the day was Rs. 73132145.

Source : Equity Bulls

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