New Delhi (16.09.2021): PFC successfully issued on 13/09/2021 its maiden €300 million 7-year Euro Green Bond at the lowest yield of 1.841% locked in by an Indian issuer in the Euro markets.
This is considered a milestone and marks many firsts for PFC as well as for the country. Not only it is the first-ever Euro-denominated Green bond floated by an Indian company but it is also the first-ever Euro issue by an Indian NBFC and the first Euro bond issue from India since 2017.
The issue was oversubscribed 2.65 times and saw participation by 82 accounts of institutional investors across Asia and Europe.
Commenting on the success, Chairman and Managing Director of PFC, RS Dhillon stated that the overwhelming response to the issue reflects international investor’s confidence in the company. This issue also demonstrates our commitment to achieving India’s renewable energy goals. Further, this bond issue would help PFC in diversifying its currency book as well as the investor base.
PFC's Director (Finance) Mrs Parminder Chopra commented that he was proud to see that the company has successfully forayed into the European market for its international raising and has concluded the inaugural Euro Bond issue at attractive terms and pricing.