https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

PFC Secures Largest Foreign Currency Term Loan Worth USD 1.265 billion

The loan will primarily be deployed towards financing assets other than thermal generation projects, furthering PFC's strong commitment to decarbonization and the transition to green energy
Indian Masterminds Stories

Maharatna PSU Power Finance Corporation (PFC) recently announced that it has secured the largest foreign currency term loan of USD 1.265 billion. This landmark transaction was executed through a facility agreement with multiple banks based in IFSC GIFT City in Gandhinagar.

The state-owned power giant announced the successful closing of the issuance of the largest-ever foreign currency term loan from an Indian PSU amounting to USD 1.265 billion. The loan will primarily be deployed towards financing assets other than thermal generation projects, furthering PFC’s strong commitment to decarbonization and the transition to green energy.

The multi-currency funding will enable PFC to expand its operations, enhance its market presence, diversify its funding sources and maintain a competitive edge. The floating rate loan, presently at an average rate of 4.21% per annum, denominated in G3 currencies — USD, EUR, and JPY — has a 5-year tenor and is linked to external benchmark rates such as Secured Overnight Financing Rate (SOFR) for USD, Euro Interbank Offered Rate (EURIBOR) for EUR, and Tokyo Overnight Average Rate (TONA) for JPY.

SBI, IDBI, Axis, MUFG, Deutsche & SMBC were the bankers to the issue with SBI being the largest lender and also acting as facility agent for this transaction.


Indian Masterminds Stories
Related Stories
NEWS
NTPC
NTPC and ONGC Join Forces to Boost India's Renewable Energy Sector
IRFC
IRFC Reports 4 Percent Growth in Q2 Profit, Reaches Rs 1,613 Crore
Tuhin Kanta Pandey IAS-resized
Tuhin Kanta Pandey Takes on Addl. Charge as DoPT Secretary Amidst Multiple High-Profile Roles
Department-of-Expenditure-1024x576
Kandarp Vajubhai Patel Appointed as Deputy Secretary in Department of Expenditure
maxresdefault (2)
IRS Atul Pandey's Efforts Help Toto Tribe Renovate Spiritual Centre in North Bengal
burglary_intruder
Odisha: Locals Are Flummoxed After Burglars Break Into IAS Prasanth Reddy's Official Abode In Bhubaneshwar
news_4thnov24
SAIL & ASCI Hyderabad Enter Into An MoU To Develop Customized Management Development Programs For SAIL Executives
image_news
Coal India Limited Celebrates Its 50th Foundation Day At Kolkata HQ, Union Coal Minister G Kishan Reddy & Coal Secy Vikram Dev Dutt Grace the Event
Videos
Sujoy Banerjee
How Sujoy Banerjee Rescued India’s Endangered Crocodiles in Chambal
Prakash Singn IPS
Mulayam Singh Introduced Casteism in Police Force
WhatsApp Image 2024-10-25 at 21.23
Why Only Soldiers? Can’t Politicians or Civilians Sacrifice Too?
ADVERTISEMENT
Latest
NTPC
NTPC and ONGC Join Forces to Boost India's Renewable Energy Sector
IRFC
IRFC Reports 4 Percent Growth in Q2 Profit, Reaches Rs 1,613 Crore
ADVERTISEMENT
Videos
Sujoy Banerjee
Prakash Singn IPS
WhatsApp Image 2024-10-25 at 21.23
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT