Power Finance Corporation NCD

Issuer Overview:

Power Finance Corporation Limited (PFC) is one of the leading financial institutions in India, focused on the power sector. The Company is a listed government of India (GoI) company and a public financial institution under the Companies Act, 2013. The Company is registered with the RBI as a non-deposit taking systemically important non-banking financial company (NBFC), and was classified as an Infrastructure Finance Company (IFC) on July 28,2010.

Summary Of Issue:

Issuer	Power Finance Corporation Limited
Type of instrument	Secured redeemable non-convertible debentures
Nature of instrument / Seniority	Secured redeemable non-convertible debentures
Mode of issue	Public Issue
Listing	The NCDs shall be listed on the BSE Limited (Stock Exchange) within six Working Days from the Issue Closing Date
Rating of the instrument	‘CARE AAA; Stable’ by CARE; ‘CRISIL AAA / Stable’ by CRISIL; and ‘[ICRA]AAA(Stable)’ by ICRA
Base Issue size	Rs. 500 cr
Option to retain oversubscription	Rs. 4500 cr
Day count basis	Actual / Actual.
Issue Price (in Rs.)	Rs. 1000 per NCD
Call/Put Date	Not Applicable
Face Value (in Rs.)	Rs. 1,000 per NCD
Minimum application size and in multiples of debt securities thereafter	Rs. 10,000 (10 NCDs)across all series collectively and in multiples thereafter of ₹ 1000 (1NCDs) thereafter.
Issue Timing 1. Issue Opening Date 2. Issue Closing Date 3. Pay-in Date	1. January 15, 2021 2. January 29, 2021 Application date (the entire application amount is payable on application date)
Deemed Date of Allotment	The date on which the Authorized Officials approve the Allotment of the NCDs for this Tranche I Issue, or such other date as may be determined by the Authorized Officials and notified to the Stock Exchange. The actual Allotment of NCDs may take place on a date other than the Deemed Date of Allotment. All benefits relating to the NCDs including interest on NCDs (as specified in this Tranche I Prospectus for this Tranche I Issue) shall be available to the Debenture Holders from the Deemed Date of Allotment.
Issuance mode of the instrument	Dematerialised form only.
Trading	In dematerialised form only.
Security cover	100% of the amount of outstanding NCDs and the interest thereon at any point of time.
Security	The principal amount of the NCDs to be issued in terms of this Trance I Prospectus together with all interest accrued on the NCDs shall be secured by way of first pari passu charge through hypothecation of the book debts/receivables (excluding the receivables on which a specific charge has already been created by the Company)