Power Finance Corporation plans retail bonds worth $1.4 billion

Power Finance Corporation Limited (PFC) is planning to sell bonds worth $1.4 billion to individual investors. According to PFC’s draft prospectus, it plans to raise the entire amount in this quarter. The planned offering will be the company’s maiden taxable issuance to individual buyers. PFC has hired Trust Investment Advisors Private, A.K. Capital Services Limited, Edelweiss Financial Services Limited and JM Financial Services Limited as lead managers for the offering. Further, it plans to issue AAA-rated notes in one or more tranches.