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Power Finance to raise US$300M in note issue

India's Power Finance Corp. Ltd. plans to raise US$300 million through an issuance of notes under its US$1 billion medium-term note program.

The instruments carry an annual coupon of 5.25% and will mature Aug. 10, 2028, according to an Aug. 9 stock exchange filing.

They will be listed on the London Stock Exchange's International Securities Market and the Singapore Exchange Securities Trading Ltd. platform.

Proceeds of the issuance will be used for general corporate purposes.