India's PFC looking to raise $500 mln in bonds-chairman

Last Updated: Wed, Dec 12, 2012 08:07 hrs

India's Power Finance Corporation will likely raise $500 million via mid-term notes by next week at the earliest and is also looking to raise $250 million via a three-year syndicated loan next month, said Satnam Singh, the chairman of the state-run lender for power projects.

The chairman said the timing of the bond issuance would depend on the pricing PFC can obtain in markets.

Power Finance Corp has been rumoured to be looking at a dollar-bond issuance, and was waiting for an explicit nod from the Reserve Bank of India, according to International Finance Review, a Thomson Reuters publication.

More from Sify: