Power Finance Corporation (PFC) commenced roadshows to market its $450 million, 10-year green dollar bonds in Singapore on Thursday, sources aware of the deal told FE. It has also planned investor meetings in Hong Kong and London over the next two working days. PFC is looking to price the green bond issue next week. Since PFC has not issued a dollar bond in recent times, bankers are looking at Rural Electrification Corporation's 10-year bonds issued in June this year for an indicative pricing. According to Bloomberg, REC's dollar bonds were quoted at a spread close to 150 basis points over the 10-year US Treasury yield on Thursday. When REC hit the market in June, it had priced the bonds at 167.50 basis points over the Treasury to raise $450 million. The bonds had received significant investor interest, which was reflected in the fact that the final price had narrowed considerably over the initial price guidance of 200 bps over the Treasury.\u201cThe yield spread on REC's dollar bond is the best indicator for PFC currently since the firm has not been in the overseas bond market in recent times. Other factors like timing of issue and investor sentiment during the end of the year might also have some effect on the price. One will have to wait and watch,\u201d said an investment banker. Barclays, Standard Chartered and SBI Caps are the bankers to the deal. PFC is hitting the dollar bond market after almost two decades. According to Bloomberg data, the last time the company raised funds in the overseas bond market was in 1999, when it picked up $100 million via seven-year paper at a coupon rate of 6.31%. Bankers told FE that the $450 million being raised would mostly be used for fresh disbursements for renewable energy projects. Next week, Lodha Developers International's dollar bonds are likely to get priced. This will be an extension of its existing dollar bond yielding 12%, which will mature in 2020. The realtor is likely to raise close to $100 million through the tap issue, according to investment bankers. Indian firms and banks have issued foreign currency bonds worth $13.15 billion so far with the latest issuance coming from Reliance Industries which priced its bonds at 130 basis points over the 10-year US Treasury yield.