PFC to raise foreign currency borrowing going ahead

Power Finance Corporation (PFC) is likely to increase foreign currency borrowing going ahead. In the last financial year, PFC raised about USD 3 billion from international markets. Now, the share of foreign currency borrowings in the overall borrowing has increased to 16 per cent.

Going forward, PFC expects the foreign currency borrowings to contribute to its portfolio to a greater extent. The PFC Group’s disbursements were more than Rs 1,400 billion in the last financial year. On the stressed assets front, GMR Chhattisgarh and RattanIndia Amravati, two of PFC’s large stressed assets were resolved during the year. Also, the resolution plan for Suzlon Energy and Essar Power Transmission have been approved.

 

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