State-owned Power Finance Corporation (PFC) has raised $400 million through its maiden green bond issue. The funds will be used to promote renewable energy in the country.
“The bond issuance saw diverse participation from high quality investors across Asia and Europe. PFC has successfully priced this 10-year Reg S Green Bond at a fixed rate coupon of 3.75%,” a PFC statement said.
According to the statement, the pricing of this bond saw the tightest ever spread of 157.5 basis points over 10- year US Treasury by any Indian issuer for the inaugural 10- year transaction. The bond is Climate Bonds Initiative certified and is being listed on the London Stock Exchange and the Singapore Stock Exchange. Read More…
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