Power Finance Corporation (PFC) declared the launch of its income tax saving infrastructure bond today with the offering set to raise Rs 5300 crore, the biggest among all recent bond issuances

Excerpts from India Business Hour on CNBC-TV18 Watch the full show »

Power Finance Corporation (PFC) declared the launch of its income tax saving infrastructure bond today with the offering set to raise Rs 5300 crore, the biggest among all recent bond issuances.
The bond will be issued in one or two tranches and will have a face value of Rs 5000.
Satnam Singh, CMD, Power Finance Corporation, said, “The rate of interest for 10 year tenure, annual and cumulative, is 8.3% and for 15 year tenure, annual plus cumulative is 8.5% with a lock in period of 5 years. That means investors have the choice to buy back, they can offer it back to us after 5 years."
src: MC

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