India's PFC and HUDCO raise 59.4 bn and 25 bn rupees through bonds
Power Finance Corp accepted bids worth 59.41 billion rupees and HUDCO 25 billion rupees in bonds, three bankers told Reuters on Friday.
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what happened
Power Finance Corp (PFC) has accepted bids worth 59.41 billion rupees ($631.03 million) for bonds maturing in 18 months and five years, three bankers said on Friday. The 18-month issue carries an annual coupon of 8.21%, while the five-year papers pay 8.05%. The bids were invited from bankers and investors earlier in the same day. PFC did not respond to a Reuters email requesting comment.
Housing and Urban Development Corporation (HUDCO) has also raised 25 billion rupees ($265.54 million) through a 10-year bond with a 7.92% annual coupon. According to the bankers, the company had asked for coupon and commitment bids during the day. HUDCO did not immediately reply to Reuters' request for comment.
why it matters
Coupons between 7.92% and 8.45% set a reference point for AAA-rated rupee debt. Deals like these show the terms on which state-run financiers borrow from investors and offer a gauge of demand for longer-dated Indian bonds.
tags
instruments
sources
- PFC accepts bids for multiple tenor bonds, bankers say — Reuters, 13 November 2026 at 07:12 UTC
- HUDCO accepts bids for 10-year bonds, bankers say — Reuters, 13 November 2026 at 07:16 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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