Indian lenders are on course to lock in pricing for $1.5 billion of bond issues this week, as a cheaper hedging facility spurs a rush in foreign-currency issuance, three bankers said on Monday. State-run financier Power Finance Corp aims to sell about $500 million of ‌bonds, and ⁠has given ⁠an initial price guidance of a yield spread of 130 basis points over U.S. Treasuries, the bankers said, making it the first non-bank lender to tap dollar bonds after India earlier this month opened a forex swap facility as part of wider measures to help the rupee. "We expect the pricing for the ⁠PFC bond ‌issue to ease to around 100 bps over Treasury," one of the bankers said.Indian financial firms to tap $1.5 billion overseas bonds this week: BankersIndian lenders are poised to issue approximately $1.5 billion in foreign-currency bonds this week, driven by a new, cost-effective hedging facility. Power Finance Corp is leading the charge with a planned $500 million sale, marking a significant move for non-bank lenders. State-run Bank of Baroda and private lender Axis Bank are also set to tap dollar markets, anticipating strong investor interest in these infrequent offerings. State-run Bank of ⁠Baroda will sell $500 million of five-year dollar bonds this week. Private sector peer Axis Bank also plans to sell perpetual dollar bonds worth at least $500 million, according to the bankers. "We are expecting bonds of banks to see very strong demand, as such issuances are rare in the dollar market," the second banker said. The bankers did not ‌want to be identified as they are not authorised to speak to the media. Power Finance Corp, Bank of Baroda and Axis Bank ⁠did not respond to Reuters emails seeking comment. India's top private lender, HDFC Bank, sold $750 million of five-year dollar bonds last week at a spread of about 90 basis points over U.S. Treasuries. Bank of Baroda and Axis Bank have finalised bankers for the issues and could raise the size of their offerings if the pricing is favourable, one of the bankers said.