State-owned PFC on Thursday said it’s issued bonds worth 300 million euros for a period of seven years.

In a statement, Power Finance Corporation Ltd (PFC) said the issuance which happened on Monday saw a robust participation from institutional investors across Asia and Europe with a participation from across 82 accounts and was oversubscribed 2.65 times

“PFC successfully issued its maiden 300 million euros 7 year euro bond issuance on 13.09.2021. The pricing of 1.841 per cent achieved is that the lowest yield locked in by an Indian issuer within the euro markets,” the statement said.

It is the primary ever euro issuance by an Indian NBFC and therefore the first euro bond issuance from India since 2017, PFC said.

PFC Chairman and director (CMD) R S Dhillon said that the overwhelming response to the issuance reflects international investor”s confidence in PFC.

PFC Director (Finance) Parminder Chopra said “PFC has successfully forayed into the ecu marketplace for its international raising and has concluded the inaugural Euro Bond issuance at attractive terms and pricing.”

PFC, under the executive control of the Ministry of Power, is that the largest non-banking financial corporation (NBFC) in power sector in India.