Business EconomyPosted at: Oct 4 2024 7:18PM


PFC secures largest-ever foreign currency term loan of USD 1.265 billion

New Delhi, Oct 4 (UNI) State owned NBFC in the power sector PFC on Friday said it has successfully closed issuance of largest-ever foreign currency term loan from an Indian PSU amounting to USD 1.265 billion.
This landmark transaction was executed through a facility agreement with multiple banks based in IFSC 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, Ministry of Power said in a statement.
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.
SBI, IDBI, Axis, MUFG, Deutsche & SMBC were the bankers to the issue with SBI being the largest lender and also acting as facility agent for this transaction, the ministry said.
UNI SKB CS1917
Please log in to get detailed story.
Tags: #PFC secures largest-ever foreign currency term loan of USD 1.265 billion
More News

ANSR to set up 200 new GCCs in next 5-year globally including India

12 Jul 2025 | 6:30 PM

Hyderabad, July 12 (UNI) ANSR, a global market leader in setting up Global Capability Centres (GCCs) and operating centres, on Saturday said it is planning to set up 200 new GCCs in the next 5 years globally.

see more..

Forex reserve witnesses a fall: RBI Weekly Statistical Supplement

12 Jul 2025 | 5:15 PM

New Delhi, July 12 (UNI) As per the report by the Reserve Bank of India (RBI) India’s Forex Reserve fell to the mark of $ 699.74 billion. India’s foreign exchange reserves refer to the assets controlled by the Reserve Bank of India in foreign currencies. Policymakers monitor these reserves to maintain smooth liquidity inside the domestic economy.

see more..

Meghalaya businesses, entrepreneurs voice concern during a meeting with Sitharaman

12 Jul 2025 | 4:33 PM

Shillong, July 12 (UNI) Union Finance and Corporate Affairs Minister Nirmala Sitharaman today chaired a stakeholder interaction here in Meghalaya, where she engaged directly with business leaders, entrepreneurs, industry representatives and citizens.

see more..

Wockhardt announces exit from generics drugs Business in US

12 Jul 2025 | 4:15 PM

Mumbai, July 12 (UNI) Pharma company Wockhardt stated in a regulatory filing that it will exit from the US generic drugs market.

see more..

Google hires Varun Mohan and other key executives of Windsurf Research

12 Jul 2025 | 3:45 PM

New Delhi, July 12 (UNI) Google also made its official entry into the AI-led talent war going on these days. The tech major reveals an agreement to hire Varun Mohan (co-founder and CEO of Windsurf Research).

see more..