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Power Finance Corporation(PFC) has secured its largest foreign currency term loan to date, totaling USD 1.265 billion.

Banking & Finance | Dated: 10 Oct 2024

Power Finance Corporation Limited (PFC), a Maharatna public sector enterprise and one of India's leading non-banking financial companies (NBFC), operating under the Ministry of Power, has secured its largest foreign currency loan of USD 1.265 billion.

🎯 Key Highlights:

  • - This transaction was executed through a facility agreement with several banks located in the International Financial Services Centre (IFSC) in GIFT City, Gandhinagar, Gujarat.
  • - PFC intends to utilize these funds to finance projects unrelated to thermal power (coal-based), thereby promoting green and sustainable energy initiatives. This aligns with India’s objectives of reducing carbon emissions and enhancing renewable energy capacity.

💡 Other Important Facts:

  • SBI, IDBI, Axis, MUFG, Deutsche & SMBC were the bankers to the issue with SBI being the largest lender and also acting as facility agent for this transaction.

📚 Test Your Knowledge:

What is the total amount of the largest foreign currency term loan secured by Power Finance Corporation (PFC)?

Correct Answer: USD 1.265 billion

🚀 Quick Recap:

About Power Finance Corporation Ltd (PFC)

  • Chairman & MD: Parminder Chopra
  • Headquarters: New Delhi