Finance Update

Power Finance Corporation sets borrowing limit at Rs 81,000 cr for FY20

​The board decided to raise Rs 45,000 crore through long term borrowings like term loans and public or private placement of long term taxable/tax free bonds.

PTI | Mar 27, 2019, 09.04 PM IST

Funds raised and repaid through commercial papers will also be excluded from this limit.

State-run Power Finance Corporation’s board Wednesday decided to set the company’s overall borrowing limit at Rs 81,000 crore for 2019-20.

At its meeting Wednesday, the board of directors approved the market borrowing program of Rs 81,000 crore under different debt segments in one or more tranches / series for the next fiscal, the Power Finance Corporation (PFC) said in a statement.

The board decided to raise Rs 45,000 crore through long term borrowings like term loans and public or private placement of long term taxable/tax free bonds.

The company plans to raise Rs 11,000 crore through long term foreign currency borrowings, Rs 7,000 crore through short term borrowings and Rs 18,000 crore through commercial paper during 2019-20.

Short term funds raised and repaid during the year will be excluded from the borrowing limit of Rs 81,000 crore.

Funds raised and repaid through commercial papers will also be excluded from this limit, it added.

Source

Prakash Poojary
Business Analyst

Leave a Reply