PFC board approved borrowing Rs 82,000 cr in FY 22-23
Power Finance Corporation, India's largest NBFC and also India's largest infrastructure finance company in BSE filling on Monday.
PFC board approved borrowing Rs 82,000 cr in FY 22-23
New Delhi: Power Finance Corporation, India's largest NBFC and also India's largest infrastructure finance company in BSE filing on Monday states that the company will be borrowing around Rs. 82,000 crore in the financial year 2022-23.
In a statement, The board of state-run Power Finance Corporation on Monday approved a proposal for borrowing Rs 82,000 crore in 2022-23. The board in its meeting held on February 28, 2022, approved borrowings of Rs 82,000 crore in 2022-23 through bonds, foreign currency borrowings, debentures, commercial papers among others, a BSE filing stated.
Over the last two to three years, PFC has focused on diversifying its borrowing portfolio by raising funds from international markets. In November 2017, PFC launched its main Green Bond issue for US$400 million, which witnessed the tightest ever spread for any Indian Issuer for its maiden 10-year issue.
In the first quarter of the Financial year 2020, PFC has raised about US$1.3 billion from the international markets.
Out of this US$1 billion was raised in June 2019, which was the first dual and largest USD bonds transaction for Govt owned Indian NBFC. This was also PFC's first borrowing from the international markets after the successful acquisition of REC Limited.
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