PFC will open its public issue of Debentures amounting Rs 5,000 crores PSU NEWS

 

 

New Delhi: Power Finance Corporation Limited, is one of the leading financial institutions in India, focused on the power sector will open its Rs 5,000 crores public issue of secured, redeemable Non-Convertible Debentures on January 15, 2021. The base Issue size is Rs. 500 crores with an option to retain oversubscription of up to Rs. 4,500 crores aggregating up to 5,000 crores which are within the shelf limit of Rs 10,000 crores. The Non-convertible debentures (NCDs) are of the face value of Rs 1,000 each. The Tranche I Issue is scheduled to close on January 29, 2021, with an option of early closure or extension as decided by PFC’s Board of Directors or a duly constituted committee thereof.

The Tranche I Issue offers options for tenures of 3, 5, 10, and 15 years. The 3-year tenure NCD in Series I will offer a fixed coupon rate of 4.65% p.a to 4.80% p.a., while the 5-year tenure NCD in Series II will offer a fixed coupon rate of 5.65% p.a. to 5.80% p.a. depending on the category of investors. The 10-year tenure NCDs offers options of both fixed and floating rates of interest. The fixed coupon rate is 6.63%p.a. to 7.00% p.a. The floating coupon rate, on the other hand, is based on Benchmark FIMMDA 10Yr G-Sec (Annualised) + spread of 55 basis points to 80 basis points, subject to floor and cap rate depending on the category of investors. The 15-year tenure NCD offers a range of fixed coupon rates with a maximum coupon rate of 7.15% p.a.

The minimum application size is for 10 NCDs aggregating to Rs. 10,000 collectively across all series of NCDs and in multiples of One (1) NCD of the face value of Rs. 1000 each thereafter.

The NCDs offered through the Shelf Prospectus and the Tranche I Prospectus both dated January 11, 2021, are proposed to be listed on BSE Limited. The Lead Managers to the Issue are Trust Investment Advisors Private Limited, A. K. Capital Services Limited, Edelweiss Financial Services Limited, and JM Financial Limited.

Ratings by CARE, CRISIL & ICRA indicate ‘High degree of safety’

The NCDs proposed to be issued under the Issue have been rated ‘CARE AAA; Stable’ by CARE Ratings Ltd, ‘CRISIL AAA / Stable’ by CRISIL Ltd (“CRISIL”); and ‘[ICRA]AAA(Stable)’ by ICRA Ltd. NCDs with these ratings are considered to have the highest degree of safety regarding timely servicing of financial obligations and such instruments carry lowest credit risk.



Posted Date :  14-01-21

Categories : PSU NEWS

Tag Cloud: PSU NEWS

Similar news

Bilaspur MLA Shri Shailesh Pandey met DP of SECL, Dr. R. S. Jha

New Delhi: Hon ' ble MLA of Bilaspur, Shri. Shailesh Pandey appreciates the works of Dr. R. S. Jha Director (Personnel) of SECL at SECL Headquarters Administrative Bhavan on 25.01.2021.  On this occasion, Municipal MLA Shri Pandey gave Dr. on behalf of all the people. Congratulations and be
Posted Date :  25-01-21

Read more

Shri Nitin Gadkari visited Khadi India’s flagship outlet

New Delhi: Shri Nitin Gadkari visited Khadi India’s flagship outlet at Connaught Place in New Delhi today and launched several village industry products made by women artisans of Uttar Pradesh and Uttarakhand. Shri Gadkari visited several stalls in the outlet and appreciated KVIC for the diver
Posted Date :  25-01-21

Read more

Covid 19 Vaccination drive started at VSGH-RINL

Andhra Pradesh: Covid 19 Vaccination drive started at RINL, today. Shri Deb Kumar Mohanthy, Director (Commercial), RINL-Vizag Steel, inaugurated the two-session sites at Main Burns Unit premises of Visakha Steel General Hospital (VSGH), RINL at Ukkunagaram, Visakhapatnam, AP.  He appreciated
Posted Date :  25-01-21

Read more

Rejuvenated Bucket Wheel Excavator Re-commissioned

Singrauli: The Bucket wheel Excavator-1420, one of the Specialized Mining Equipment (SME) working in the Mine-II of NLC India Ltd., was re-commissioned on 11.01.2021 after completion of revamping works. The 1400 lts. bucket capacity BWE was supplied by M/s. O&K of Germany and it originally co
Posted Date :  25-01-21

Read more

CMD KIOCL met Honble Minister for Forest, Kannada, and Culture

Vidhan Soudha: Shri Subba Rao MV, Chairman, and Managing Director, KIOCL met Shri Arvind Limbavali, Hon'ble Minister for Forest, Kannada & Culture, Govt of Karnataka, today Jan 25, 2021, at Vidhansoudha and requested his support & help in connection with FC issues for Devadari Mines.
Posted Date :  25-01-21

Read more

Shri Pramod Agrawal chairs Review Meeting at CMPDIL

New Delhi: Shri Pramod Agrawal (IAS), Chairman, CIL chaired a review meeting at CMPDIL on Jan 23, 2021. Issues like the reorganization of Jharia Coalfields of BCCL, First Mile Connectivity (FMC) projects (phase-II) of CIL, Progress of  Mine Developer & operator (MDO) Projects, formulation o
Posted Date :  25-01-21

Read more

Finance Minister released the 13th weekly instalment of Rs 6,000 crore

New Delhi: The Ministry of Finance, Department of Expenditure has released the 13th weekly installment of Rs. 6,000 crore to the States today to meet the GST compensation shortfall. Out of this, an amount of Rs. 5,516.60 crore has been released to 23 States and an amount of Rs. 483.40 crore has been
Posted Date :  25-01-21

Read more

NCL concludes Two-day International Conference ICOMS 2020

New Delhi: Northern Coalfields Limited concludes its two-day event of the International Conference on Open Cast Mining Technology and Sustainability "ICOMS" on Saturday. On the occasion, key topics of discussion are modern mining technology, environmental balance, clean energy. During t
Posted Date :  25-01-21

Read more

IREDA CMD addressed webinar on Business Acumen-Building Better HR

New Delhi: Shri Pradip Kumar Das, Chairman & Managing Director (CMD), Indian Renewable Energy Development Agency Limited (IREDA) yesterday addressed a webinar on “Business Acumen: Building Better HR” organized by Delhi Management Association (Delhi). Talking to the participants, Shri
Posted Date :  25-01-21

Read more

CIL demonstrated drone procured by CMPDI

Ranchi: Shri. Pramod Agrawal, Chairman, CIL witnessed a live demonstration of the first drone procured by Central Mine Planning & Design Institute (CMPDI) at Ranchi. Drones will be used by CMPDI for volumetric measurements in case of in-situ excavation, overburden dumps & coal stocks usin
Posted Date :  25-01-21

Read more

SAIL celebrated Foundation day as SAIL Gaurav Diwas

New Delhi: Steel Authority of India Limited celebrated its  Foundation Day 2021 as SAIL Gaurav Diwas on Jan 24, 2021, by the entire SAIL family. A virtual program was held in which all plants/units participated with immense enthusiasm and fervour.
Posted Date :  25-01-21

Read more

Finance Minister launched Union Budget Mobile App at Halwa ceremony

New Delhi: The Halwa ceremony, marking the final stage of the Budget making process for Union Budget 2021-22, was held in North Block here today afternoon in the presence of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. A customary Halwa ceremony is performed every year bef
Posted Date :  23-01-21

Read more

PowerGrid conducts Training Program on Tower Climbing

New Delhi: A Training Program on Tower Climbing is being conducted by the Government of India Maharatna PSU, Power Grid Corporation of India Limited (POWERGRID) for technicians of Chhattisgarh State Power Transmission Co. Limited (CSPTCL) at Raipur from 20th-23rd January 2021 as part of Human Resour
Posted Date :  23-01-21

Read more

CCL felicitates its Corona Warriors

New Delhi: Shri Pramod Agrawal, Chairman Coal India Limited along with CMD, CCL felicitated its team of doctors, nurses, ward boys, and plasma donors for their service to humanity during the COVID crisis. Central Coalfields Limited (CCL), is a Miniratna PSU engaged in mining, washing and sale of
Posted Date :  23-01-21

Read more

NRL conducts awareness campaign as a part of Saksham2021

New Delhi: NRL refinery site conducted an awareness campaign as a part of Saksham2021, today on 22nd January 2021 in the Diesel hydrotreating Unit, the Wax Hydrofinishing Unit, and Sulphur recovery block.  Participants included field operators, technicians, Manager in-charge, assembled in th
Posted Date :  23-01-21

Read more