PFC issues India’s first-ever Euro Green Bonds

Power Finance Corporation Limited (PFC) has issued its maiden Euro 300 million 7-year green bonds.

The pricing of 1.841 per cent achieved is the lowest yield locked in by an Indian issuer in the Euro markets. The issuance saw a strong participation from institutional investors across Asia and Europe with a participation from across 82 accounts and was oversubscribed 2.65 times. It is not only the first Euro bond issuance by PFC but also the first ever Euro denominated green bond issuance from India. Moreover, it is the first ever Euro issuance by an Indian NBFC and the first Euro bond issuance from India since 2017.