Power Finance Corporation has raised USD 300 million through the issuance of senior unsecured US dollar-denominated bonds with a tenure of five years.

The company said it became the first central public sector undertaking (CPSU) and the first NBFC to access the international bond market following the RBI's announcement of a special swap facility in its recent monetary policy.

The bonds were priced at 105 basis points over the 5-year US Treasury benchmark, carrying a fixed coupon rate of 5.32% per annum. The fund raise is expected to support PFC's financing activities in the power and infrastructure sectors.