Power Finance Corporation Limited (PFC) has secured a USD 1.26 billion foreign currency term loan, marking the largest such loan ever raised by an Indian public sector undertaking. The loan was arranged through a facility agreement with multiple banks at IFSC GIFT City, Gandhinagar, and will be used to fund green energy projects outside the thermal generation sector.

The loan has a floating interest rate of 4.21% per annum with a five-year tenure. The participating banks include SBI, IDBI, Axis, MUFG, Deutsche, and SMBC, with SBI serving as the primary lender and facility agent.

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