India New Issue-PFC sets 7.64% coupon on 10-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, Feb 20 (Reuters) - India's Power Finance Corp (PFC) has set a 7.64% coupon on its bonds maturing in 10 years, three merchant bankers said on Monday. The state-run company has accepted bids worth 35 billion rupees ($423.2 million) on this issue, for which it had invited coupon and commitment bids earlier in the day. The issue was fully subscribed. The bonds are rated AAA by CRISIL, CARE and ICRA and the issue will settled on Wednesday.


The issue has a put option at end of three years. PFC raised 25.40 billion rupees in December, by selling bonds maturing in three years and one month at an annual coupon of 7.58%. ($1 = 82.7050 Indian rupees) (Reporting by Bhakti Tambe; Editing by Sonia Cheema)

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