MUMBAI, June 7 India's Power Finance Corp Ltd
raised 8 billion rupees through the issue of 10-year
subordinated tier II bonds at 8.19 percent, three sources with
knowledge of the deals said.
The firm had invited re-bids on Thursday to raise at least
1.5 billion rupees, after scrapping an offering with similar
terms earlier this week, owing to a mismatch in pricing
expectations with arrangers.
The proceeds from the bond sale will be used to strengthen
capital adequacy and augment long-term resources, the firm said
in its termsheet.
(Reporting by Archana Narayanan; Editing by Jijo Jacob)