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PFC to issue tax free bonds

PFC to issue tax free bonds

State-run Power Finance Corp is in the process of issuing around Rs 150 crore ($23 million) worth of tax-free bonds across different maturities.

While the firm would issue 10-year tax-free bonds at 8.04 percent, 15-year bonds at 8.41 percent, and 20-year bonds at 8.40 percent.

The amount would be raised through private placement and the issue is open to institutional investors and corporates.

The issue has a greenshoe option of Rs 3.76 billion and is rated AAA by Crisil, ICRA and Care rating agencies.

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