POWER FINANCE CORPORATION LTD. - Issue of Foreign Currency Denominated Bonds

Power Finance Corporation Ltd has informed BSE that for the purpose of raising external commercial borrowing up to U.S.$ 1 billion, the Company has mandated Barclays Bank PLC, Standard Chartered Bank and SBICAPS (Singapore) Limited to organize meetings with proposed investors in relation to issue of the Notes. The proceeds of the Notes, if and when issued, will be utilized for on-lending to the Companys borrowers in the power sector in rupee and / or foreign currency, in accordance with the rules and regulations framed by the Reserve Bank of India. The offering of the Notes may follow, subject to market conditions.