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PFC to raise Rs3 crore via bonds

PFC to raise Rs3 crore via bonds
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First Published: Wed, Feb 06 2008. 11 10 AM IST
Updated: Wed, Feb 06 2008. 11 10 AM IST
Mumbai: State-run lender to the power sector, Power Finance Corp, is planning to raise Rs3 crore by selling 3-year and 5-year bonds, according to a term sheet seen by Reuters.
The pricing would be finalized via the book-building route. The price bank on the 3-year bonds is 8.96-9.01%, while the 5-year paper has a band of 8.98-9.03%. The bonds are rated “AAA” by CRISIL and “LAAA” by ICRA.
The issue opens on Wednesday and closes on Friday. AK Capital, ICICI Securities, Axis Bank, Standard Chartered Bank, ICICI Bank, Almondz, Darashaw, Centrum, Citibank and HSBC.
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First Published: Wed, Feb 06 2008. 11 10 AM IST