GK and monthly revision

PFC raises $300 million through five year dollar bond

Power Finance Corp (PFC) successfully raised $300 million through a five-year dollar bond, marking a significant milestone as India's second issuance under the RBI's special swap arrangement. This bond was priced at 105 basis points above US treasuries and is part of a broader trend where major Indian banks are also planning similar international borrowings. This move is significant as it showcases India's ability to attract foreign investment and capitalizes on favorable RBI policies for external borrowings.