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Power Finance to issue US$750M of notes

Power Finance Corp. Ltd. plans to issue US$750 million of notes.

The company will issue US$450 million of notes priced with a coupon of 3.90% per year and due Sept. 16, 2029. It will also issue US$300 million of notes priced with a coupon of 3.25% per year and due Sept. 16, 2024.

The notes will be issued Sept. 16 under the bank's US$5 billion medium-term note program. They will be listed on the boards of Singapore Exchange Securities Trading, India International Exchange and NSE IFSC.

Barclays Bank, MUFG Securities Asia and Standard Chartered Bank are managers for the issuance.