Power Finance Corporation launched issuance of U.S.$500,000,000 3.35 per cent notes due 2031 under the U.S.$5,000,000,000 Global Medium Term Note Programme. The Notes have been priced on 21 January 2021 and carry a coupon of 3.35% per annum payable in arrear on each Interest Payment Date. The settlement date for the Notes is expected to be 29 January 2021.
Unless previously redeemed pursuant to the terms and conditions of the Notes, the Notes will mature on 16 May 2031 and principal and interest payments will be made in U.S. Dollars.
The Notes will be listed on the Singapore Exchange Securities Trading, NSE IFSC and India INX.
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