PFC emphasises scarcity of India short-end loans for dollar deal

30 May 2012

Power Finance Corp has launched a $100m three year loan into general syndication, offering lenders a rare chance to gain exposure to short-dated Indian risk. Loans bankers are now hoping for a wider boost in borrowing from the country over the rest of the year, writes Matthew Thomas

Bank of Tokyo-Mitsubishi and Mizuho Corporate Bank are managing the deal, which could be increased to as much as $250m. They have approached lenders with a top level all-in return of 220bp, and are hoping to attract commitments by pointing to the unusually short tenor of the loan, ...

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