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Power Finance Corporation gains on raising $1 billion through Reg-S bonds

Power Finance Corporation is currently trading at Rs. 132.35, up by 0.35 points or 0.27% from its previous closing of Rs. 132.00 on the BSE.

The scrip opened at Rs. 132.90 and has touched a high and low of Rs. 133.35 and Rs. 130.85 respectively. So far 152531 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 136.10 on 06-Jun-2019 and a 52 week low of Rs. 67.60 on 17-Jul-2018.

Last one week high and low of the scrip stood at Rs. 136.00 and Rs. 129.65 respectively. The current market cap of the company is Rs. 34677.47 crore.

The promoters holding in the company stood at 59.05%, while Institutions and Non-Institutions held 35.33% and 5.63% respectively.

Power Finance Corporation (PFC) has successfully tapped international market and raised $1 billion through Reg-S bonds in one go. This was the PFC's first issuance in the international market after successful acquisition of Government of India holding in REC.

The $1 billion Reg-S transaction was executed through two tranches. The 5 year tranche for $400 million at 3.87% at a reoffer spread of 195 bps over 5 year UST and 10 year tranche for $600 million at 4.577% at a reoffer spread of 242.5 bps over 10 year UST.

PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.

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