Power Finance Corporation (PFC) declared the
launch of its income tax saving infrastructure bond today with the
offering set to raise Rs 5300 crore, the biggest among all recent bond
issuances.
The bond will be issued in one or two tranches and will have a face value of Rs 5000.
Satnam Singh, CMD, Power Finance Corporation, said, “The rate of
interest for 10 year tenure, annual and cumulative, is 8.3% and for 15
year tenure, annual plus cumulative is 8.5% with a lock in period of 5
years. That means investors have the choice to buy back, they can offer
it back to us after 5 years."
src: MC