InvestorQ : Why is Power Finance Corporation (PFC) planning to raise money via dollar debt?
diksha shah made post

Why is Power Finance Corporation (PFC) planning to raise money via dollar debt?

Answer
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Sam Eswaran answered.
3 months ago


Power Finance Corporation (PFC) is in talks with bankers to launch $750 million overseas bond issue to shore up its balance sheet. PFC is India’s largest lender to the power sector and this will mark PFC’s first overseas bond issue in the current fiscal year. In the previous fiscal year, PFC had raised close to $2 billion via this route. Its last offering in January was oversubscribed by 4 times. For the fiscal 2018-19, PFC had reported total revenues of Rs.54,156 crore and net profits of Rs.12,640 crore. It may be recollected that PFC had acquired REC in March 2019 for a consideration of Rs.14,500 crore.