New Delhi : State-run Power Finance Corp on Friday said it raised $400 million through its maiden green bonds issue.PFC has priced this ten - year Green Bond at a fixed rate coupon of 3.75%.The bond is Climate Bonds Initiative certified and is being listed on London Stock Exchange and Singapore Stock Exchange, an official statement said. of India target of 175GW of renewable capacity by 2022," the statement said.The green bond offering aids PFC’s objective to diversify its source of funding. Earlier, PFC added another funding source to its borrowing portfolio, when the finance ministry allowed it to raise funds through 54EC Capital Gain Bonds. Capital Gain Bonds were launched by PFC in July,2017 at a coupon of 5.25% and the issuance is on tap throughout the year. Additionally, PFC has also tapped foreign currency syndicated loan market recently for $ 300 million.

Source: Economic Times December 01, 2017 12:22 UTC