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Business Corner

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Business Corner

Saturday, 18 January 2020 | Agencies

Subodh Gupta, Director (Finance), BHEL, recognised for his Finance Leadership

New Delhi: Subodh Gupta, Director (Finance), Bharat Heavy Electricals Limited (BHEL) has been awarded the “TOP RANKERS Excellence Award 2020” for Best Finance Professional of the year. The award has been conferred on Gupta in recognition of his finance leadership. Gupta has been instrumental in revamping the financial systems and procedures in the company and ensuring best corporate practices. The award was presented to Gupta at the 21st National Management Summit being held in New Delhi.

PFC issues Senior Unsecured USD Bonds

New Delhi: Power Finance Corporation Ltd (PFC), the leading NBFC in power sector, successfully carried out the issuance of 10.25 year $750 million bonds on 15th January 2020 under Reg S & 144 A route. The bonds have a fixed coupon of 3.95 per cent p.a. and a yield of 4.066 per cent. With this offering, PFC becomes the first IndianPublic Sector Company to issue senior unsecured USD bonds with a tenure of more than 10 years. This is also PFC’s third international bond issuance in FY 19-20 as well as PFC’s largest single tranche bond. The final order book amounted to more than $2.2 billion, attracting active and wider participation from investors across US, European and Asian markets, with around 42 per cent participation from the US market.

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