New Delhi: Power Finance Corporation Ltd. (PFC), the leading Non Banking Finance Company (NBFC) in power sector, has successfully issued its maiden Euro 300 million 7-year Euro Bond issuance on September 13, 2021. The pricing of 1.841% achieved is the lowest yield locked in by an Indian Issuer in the Euro markets.
It is 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.
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.
The European green bond standard (EUGBS) is a voluntary standard to help scale up and raise the environmental ambitions of the green bond market. Establishing this standard was an action in the European Commission’s 2018 action plan on financing sustainable growth and is part of the European green deal.
– global bihari bureau
