PFC Secures largest-ever forex term loan of US$ 1.265 billion
The floating rate loan with 5-Year tenure carries a comfortable rate of 4.21% p.a. and is in US$, EUR and JPR.
Gandhinagar (GUJ) : Power Sector Maharatna PFC Ltd, a leading NBFC engaged in fecilitating funding for core sectors of Indian economy like power and infrastructure, has announced the successful closing of issuance the largest-ever foreign currency term loan for an Indian PSU amounting to USD 1.265 billion, according to a company press release.
This landmark transaction has been executed through a facility agreement with multiple banks based in IF
SC GIFT City, Gandhinagar. The loan will primarily be deployed towards financing assets other than thermal generation projects, furthering PFC’s strong commitment to decarbonization and the transition to green energy. The multi-currency funding will enable PFC to expand its operations, enhance its market presence, diversify its funding sources and maintain a competitive edge.
The floating rate loan, presently at average rate of 4.21% per annum, denominated in G3 currencies—USD, EUR, and JPY—has a 5-year tenor and is linked to external benchmark rates such as SOFR for USD, EURIBOR for EUR, and TONA for JPY.