PFC hits mkt, to raise Rs 3,875 crore
NEW DELHI .Power Finance Corporation (PFC) on Monday hit the markets with public issue of tax-free bonds and seeks to raise R3,875.90 crore.
The base issue size is R750 crore with an option to retain over subscription up to R3,875.90 crore. The coupon for retail investors is set at 8.43% for the tenure of 10 years, 8.79% for 15 years and 8.92% for 20 years. For non-retail investors, the yield is 8.18% for 10 years, 8.54% for 15 years and 8.67% for 20 years. The quota for retail investors is 40%.
At the end of Monday trade, PFC had mopped up more than R2,300 crore according to the Bombay Stock Exchange website. Financial Express
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