Power Finance Corporation Limited (PFC) has secured a foreign currency term loan of USD1.26 billion, making it the largest foreign currency loan ever raised by an Indian public sector undertaking.
This loan was arranged through a facility agreement with multiple banks at IFSC GIFT City, Gandhinagar, and is intended to fund green energy projects outside the thermal generation sector. The loan carries a floating interest rate of 4.21 per cent per annum and has a tenure of five years. The banks involved in the loan include SBI, IDBI, Axis, MUFG, Deutsche, and SMBC, with SBI acting as both the primary lender and the facility agent.