New Delhi: State-owned financial institution Power Finance Corporation Limited (PFC) has launched a $300 million bond issuance under its $8 billion Global Medium Term Note (GMTN) Programme, strengthening its access to international debt markets.
The bonds were priced on June 22, 2026, and carry a fixed coupon rate of 5.32% per annum.
Five-Year Dollar Notes Maturing in 2031
The newly issued notes are five-year dollar-denominated bonds with maturity scheduled for June 30, 2031, unless redeemed earlier.
Key features include:
- Issue Size: $300 million
- Coupon Rate: 5.32% per annum
- Maturity Date: June 30, 2031
- Settlement Date: Expected June 30, 2026
- Interest Payment: Semi-annual (June 30 and December 30)
- Currency: US Dollar
Interest and principal payments will be made in U.S. dollars.
Read also: PFC Appoints Pankaj Gupta as Part-Time Non-Official Director for 3-Month Tenure
Listing on NSE IFSC and India INX
The bonds will be listed on:
- NSE IFSC
- India International Exchange (India INX)
This listing will allow global investors to participate in the issuance and improve liquidity in international markets.
The notes are direct, unconditional, and unsecured obligations of PFC and will rank pari passu with all other unsecured obligations of the issuer.
Use of Proceeds and Regulatory Compliance
The company stated that the net proceeds from the bond issuance will be used in accordance with the Reserve Bank of India’s External Commercial Borrowing (ECB) guidelines.
Power Finance Corporation Limited regularly raises funds from domestic and global markets to support long-term financing needs of India’s power and infrastructure sectors.
Strengthening Global Market Presence
This issuance underlines PFC’s growing presence in international debt markets and its strategy to diversify funding sources. The GMTN programme enables the company to raise funds efficiently for large-scale infrastructure financing.
About Power Finance Corporation
Power Finance Corporation Limited (PFC) is a Government of India enterprise under the Ministry of Power and one of the leading financial institutions in the power sector. The company plays a key role in financing India’s energy infrastructure, supporting power generation, transmission, and distribution projects across the country.
Read also: PFC Appoints V. Packirisamy as Director (Commercial) to Boost Power Sector Financing and Growth
