PFC Secures largest-ever foreign currency term loan of USD 1.265 billion
The multi-currency funding will enable PFC to expand its operations, enhance its market presence, diversify its funding sources and maintain a competitive edge.
PFC Secures largest-ever foreign currency term loan of USD 1.265 billion
PFC, a Maharatna company and leading NBFC in Indian power and infrastructure sector, is proud to announce the successful closing of issuance of largest-ever foreign currency term loan from an Indian PSU amounting to USD 1.265 billion. This landmark transaction was executed through a facility agreement with multiple banks based in IFSC GIFT City, Gandhinagar.
The loan will primarily be deployed towards financing assets other than thermal generation projects, furthering PFC 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.
Read Also : Bank of India enters into an MOU to provide salary account facilities for Coal India Limited employeesThe floating rate loan, presently at 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 SOFR for USD, EURIBOR for EUR, and 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.
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