PFC Raises $300 Million Loan From Overseas Investors
The loan, jointly approved by State Bank of India, Hong Kong, and MUFG Bank Ltd., Singapore, is PFC's second foreign currency borrowing in 2019-20. PFC had raised $1 billion through issuance of Reg-S bonds. This was the biggest bond issuance overseas by a government-owned non-banking finance company.
PFC has thus mobilised $1.3 billion so far this year, indicating investor confidence in the company post acquisition of government shareholding of 52.63 percent in REC.