PFC’s board sets overall borrowing limit at Rs 81,000 crore for FY20
28th Mar 2019

Power Finance Corporation’s (PFC) board of directors has approved the market borrowing program of Rs 81,000 crore under different debt segments in one or more tranches / series for the next fiscal (FY20). The board has decided to raise Rs 45,000 crore through long term borrowings like term loans and public or private placement of long term taxable/tax free bonds.

The company plans to raise Rs 11,000 crore through long term foreign currency borrowings, Rs 7,000 crore through short term borrowings and Rs 18,000 crore through commercial paper during 2019-20. Short term funds raised and repaid during the year will be excluded from the borrowing limit of Rs 81,000 crore.

PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.