PFC raises USD 300 mn via bonds carrying floating interest rates

Power Finance Corporation raised USD 300 million via floating rate notes maturing on 16 July 2029, issued under its USD 8 billion Global Medium Term Note Programme. The notes carry a coupon of overnight SOFR plus 110 basis points per annum, payable quarterly, and will be listed on NSE IFSC and India INX. Proceeds will be used in line with RBI external commercial borrowing guidelines, strengthening PFC's international funding base ahead of the 16 July 2026 settlement.