PFC becomes first non-bank lender to tap dollar debt after RBI subsidy, bankers say

PFC raises $300 million through five year dollar bond

Power Finance Corp raised $300M in five-year bonds at 105 bps above US Treasuries through the RBI's 1.5% fixed-rate swap. Lower ECB costs signal expanded capital access for Indian financial institutions, with implications for regional M&A activity and startup funding runway.