PFC extends to 10.25 year with new 144A bond

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By Addison Gong
16 Jan 2020

Power Finance Corp sold its third dollar transaction in six months, raising $750m from a slightly longer-dated deal.

Lead managers Barclays, MUFG and Standard Chartered priced the $750m 10.25 year 144A/Reg S bond for the Indian company on Wednesday, at a spread of 227.5bp over US Treasuries, or at a reoffer price of 99.039 to yield 4.066%. The April 2030 paper will pay a 3.95% coupon. ...

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