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Post at: Oct 11 2021

PFC issues India’s first-ever Euro Green Bond

Recent Context

  • On September 13, 2021 Power Finance Corporation (PFC) has issued its maiden Euro Green Bond of £300 million. 
  • The 7-year instrument has been priced at 1.841 per cent.

Key Highlights

  • It is the first ever Euro denominated Green bond issuance from India. 
  • It is the first ever Euro issuance by an Indian NBFC and the first Euro bond issuance from India since 2017.

Objectives

  • The bond issuance would assist the Power Finance Corporation (PFC) in managing the renewable energy portfolio.
  • This bond issuance would help PFC in diversifying its currency book as well as the investor base.

About Power Finance Corporation (PFC) 

  • PFC was incorporated on July 16th, 1986.
  • It is a Schedule-A Navratna CPSE, and is a leading Non-Banking Financial Corporation in the Country.
  • PFC is under the administrative control of the Ministry of Power. 
  • PFC was conferred the title of a 'Navratna CPSE' in June, 2007, and was classified as an Infrastructure Finance Company by the RBI on 28th July,2010.
  • PFC plays a crucial role in the rise of India as a global player. Increasingly, a country's development is gauged by measuring its energy usage.
  • PFC's registered office is located at New Delhi and regional offices are located at Mumbai and Chennai.

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