India's PFC selling at least 1 bn rupees in tax-free bonds
Agencies: Mumbai, Nov 19 2012, 12:53 IST
India's Power Finance Corp is planning to sell at least 1 billion rupees ($18.15 million) via tax free bonds, according to a term sheet obtained by Reuters on Monday.
The power sector lender will sell 10-year bonds at 7.21 percent and 15-year debt at 7.38 percent, the document showed.
The bond sale is scheduled to open and close on Tuesday.
The fundraising from the state-run firm will be the second tax-free issuance this financial year after IIFCL, which raised 5 billion rupees through three tranches of tax-free bonds earlier this month.
Nine companies have been allowed to issue a total of 535 billion rupees of tax-free bonds this fiscal year, which ends in March 2013
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